Market continues its Bearish trend not only for BITCOIN also for the main indexes as DOW and S&P500 .
On its travel along the Bearish wedge the Stochastic RSI has crossed the lower limit in many occasions at the Daily Chart but only when the RSI touched the "oversold" limit, BITCOIN has rebounded upwards with a sustained move.
Today, Stochastic RSI indicates an "oversold" condition but RSI still have to drop further to reach that point:
BITCOIN is going to fall lower, maybe moving with an agonizing decay sideways, searching for a solid support, perhaps at 5850$ (C) which would draft a nice "Double bottom" on which rebound.
@toofasteddie*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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by toofasteddie