Bitcoin is stuck around 67K, even after a dip when US markets opened. Feels like the sellers are kinda worn out at these levels. I think we've reached a balance for now, and unless some big negative news hits, it’s unlikely we'll dip below the high 50s. I'm betting on higher lows moving forward.
True, if we’re talking about 60K as the low, then yeah, it’s probably holding for now. Who knows what the future holds though? For the immediate term, I don’t see it breaking below 60K. Higher lows could signal a change to an uptrend but not sure if that’s how it’ll play out.
On the shorter timeframes like 15 and 30 mins, I’m seeing some green candles appearing, like ten in a row, but volume is super low. Still expect a reversal with shorts coming back as the US market opens. Curious to see how low they can push it again.
Just checked the monthly RSI back to 2010. Right now, it's at 41.29, which is pretty low compared to historical data. Outside of a few moments during the 2022-2023 bear market, this is rare. Doesn’t mean it can't fall more, but seems like we’ve seen the worst drop already. If we haven’t reached bottom yet, we’re likely getting close.