BTCUSD - RSI ANALYSIS (Monthly Chart)
We reached 63 level on RSI, which was a retrace at july 2013
Also after RSI crosses this level, test it again, it means strong S/R line,
If it goes down more, than 43 level will be easy target,
On price chart there is a gap on monthly chart between 4300 usd - 6500 usd
We already reach there, if bitcoin finishes correction between these levels, it will be more healty for next up moves
Not expecting any price down 5100
So 5100 - 6500 zone will be perfect buy for bitcoin
We reached 63 level on RSI, which was a retrace at july 2013
Also after RSI crosses this level, test it again, it means strong S/R line,
If it goes down more, than 43 level will be easy target,
On price chart there is a gap on monthly chart between 4300 usd - 6500 usd
We already reach there, if bitcoin finishes correction between these levels, it will be more healty for next up moves
Not expecting any price down 5100
So 5100 - 6500 zone will be perfect buy for bitcoin
Note
Rsi is gonna turhn from 64 level, which is same as July 2013, good to have a look at long timeframes, that gives you a big picture
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.