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  • Writer's pictureCryptofool

Technically speaking: BTC long term

Updated: Aug 8, 2022

It was a rough week for crypto. What can we expect in the near future?

  1. The MACD and RSI are diverging lower

  2. The RSI below the “50” line

  3. The MACD crossing below “0” line

  4. The price closed below Ichimoku cloud

The RSI is not oversold, potentially having more room to drop. The critical support line to watch is at 29 -30K.

I would expect a technical bounce of 29 - 30K level but not a reversal . However, breaking those levels may trigger a massive panic sell off that will push BTC close to 2017’s all time high.

Buy BTC: Coinbase

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