We have entered elevated territory on the BTC Daily RSI. This coincides with the 3d higher high on BTC since dipping below $16,000 last November. After making the 3d higher high yesterday, BTC has traded back down below 31,000 as of this post.
Unless BTC can see multiple, higher daily closes (above $31,000), I will favor the sell-side and expect lower lows....
** For Entertainment and Analysis Only - Not Financial Advice or Trading Advice **
Path on chart reflects simple Elliot Wave theory just to visualize future direction.
(Press Play Button any price action past October 6, 2022)
Expect BTC to find a bottom over the next year.
Blue Path represents upward consolidation into 2023
Red Path represents final move to...
