2/2 The BTC chart shows RSI closer to oversold than overbought as a downward trend channel forms heading toward support. With leverage largely reduced and volumes dropping we are in need of a catalyst. With bad news mostly priced in, the market is looking for a reason to rally.
Daily RSI in an interesting spot, especially after the drop and now back to daily open. An elbow here would give us confirmation of a bull div and expected continuation through the downtrend line, which imo would start our next bullish run.
3:58 PM · Jul 14, 2021