there is a bit $2000 drop that happened, and I may have seen the reason why, I saw a regular bearish divergence, this means the price may drop and it happened and I spotted two regular bearish divergences and the RSI is weakening if you can see. we may see a little drop and maybe a bit of weak price action above the found reasonable support let us all hope that it will stay above that support for the alts not to react violently, but as you can see the alts already reacted a little bit, so if another drop happens it will be painful.
alts reaction
you can see the RSI of every one of them weakened, especially BTC the RSI from the top part. But if you notice my RSI and Price plotting at the bottom, the RSI is already approaching the oversold area but the price is very far above from the last oversold area which is the $6700 area. so we may see a bounce at the found support. Let us all hope for my analysis to be accurate because I am hoping for the best :)
Legal disclaimer: I am not a financial advisor nor any content in this article a strong financial advice, buy and trade at your own risks. my analysis is based on my view using technical analysis and market behavior.
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Thanks for this!
welcome boss :)
as you can see, the support is really reasonable as it bounces exactly right there with a wick, and we are back again at $8000 area hoping it will sustain, for the alts to be good and are trading to be on point