Bitcoin, as well as all the altcoins, is pretty much oversold now and all of their's RSI is in the oversold region. Looking at the daily chart we can say that at this moment bitcoin can't go further down. But, we have to consider the larger timeframe. So, looking at the weekly timeframe, the RSI is in the middle range and the stochastic RSI is having a downwards momentum and theres pretty much room for it to move further down. So for now what I think is Bitcoin is gonna go further down to $5000 level or further below that. And after that we can expect some releif. Untill then, sit tight and watch the bear market. Patience is the key.
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