Bitcoin could move lower so exercise caution on the charts.
We can see that BTC has bounced from the longer term trend line and so we could very well have a bottom on the chart. We can also see that the RSI has aslo bounced from the oversold level. Looking at the chart history we see that every time the RSI touches this level we get a new bull run. These signs do indeed point to a new trend change even if is short lived.
We should also use caution as it is possible that we are about to see the follow through from a dead cat bounce. Although I am optimistic on BTC it would be beneficial to see a series of higher lows and highs before we get too invested.
