Bitcoin has gone down again. Now it is depending on the mercies of investors. The price could go down even deeper if no large volume to jack it up. Smart investors will gain profit of course. FOMO investors will lose big time. Estimated range 5.5k ~ 7.5k
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Theory:
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
https://en.wikipedia.org/wiki/Technical_analysis
