Technical analysis (1D):
- Significantly-large buy volume, one week ago; however, it was only after significantly-large sell volume, the day prior. Lots of people sold, which caused a lot of people to buy the following day, but then everything settled, and the downtrend continued.
- At the same time, one week ago, RSI portrayed an oversold market.
- Small price movement, so far, on the current candle. Not breaking through downtrend channel. Likely, a red candle will form next, and the downtrend will continue.
- No significant reversal signals.
Fundamental analysis:
- BTC has large fees, long transaction times, it's getting much harder to mine.
- BTC has no actual benefit, relative to alts.
My prediction:
- BTC will continue in its downtrend.
β Nio Pomilia
All of my market reports, and predictions, are based on prior knowledge ofβand sufficient experience withβtechnical and fundamental analysis, critical thinking, and logic.
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