The general tone of Bitcoin is currently bearish, any upmove would be easily sold into. But we are seeing a divergence on the RSI that has been going on for the last 6-8 hours and it seems that it is ripe for a bounce. First initial bounce target would be around 8500 area where it broke a support area. Sure it can go lower, but RSI divergence tend to be strong signals the longer it goes. At least a bounce here is expected, perhaps a temporary bottom or even a reversal, we will have to wait and watch.
Hello, thanks for the post, this is the count mostly viewed currently, however I don't have the same view as most. This may not be the reversal yet, but waiting for the 5th wave is a disaster from my experience. The 5th wave can be a truncated wave to mess up your count.
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Sure!
That 8500 area is becoming likely to be the top for this move, confluence of price resistance, EMA 200 on 15mins, RSI overbought level on 15mins. Be sure to take some profits there and hold on to some in case price blast through.