55MA was breached only 4 times during 2017. this has been breached this time again. currently its hovering in between 55MA and 200 EMA . It has yet came as low as $10040 though.
Oversold it is for now. the RSI is extremely low. Last time BTC had this low RSI was price was less than $4000 and that's where the rally started.
BTC is finally making its move to complete the ABC correction. final wave towards $8K will complete the ABC correction.
Remember 200 EMA is $8448 so this should act as a good support for the C correction.
Let see how this plays out!
