An analyst who follows him widely tends to climb on Bitcoin (BTC) although King Crypto King hovers more than 20 % less than the heights that have ever reached in January.
Analyst known as Rekt Capital Recount His 542,500 followers on the social media platform x that the heavy sale that Bitcoin witnessed during the past two weeks is about to be completed.
“It has been a market dominated by the seller over the past two weeks, as the size of the seller has been higher than a daily event.
However, there was a decrease in the seller during this period.
This must contribute to the exhaustion of the seller sooner, not later. “
More nickname analyst He says This bitcoin can turn out if the RSI indicator (RSI) on the weekly time frame maintains the level of support that extends to early 2024. RSI is calibrated, a momentum oscillator used to determine excessive workplaces or excessive conditions, and is calibrated between 0 and 100 with reading or less than 30 conditions in excessive work or reading above 70 that indicate an increase in disorder.
“In the past few times that Bitcoin decreased to RSI = 44 (blue), the price was not below it immediately but it was very close to the final bottom.
Hold the weekly RSI = 44 and the bottom of bitcoin should not be far away. “
An analyst also follows widely He says Bitcoin constitutes an upward difference in the daily time frame. The bullish difference occurs when the price is formed lower while an indicator like RSI is its highest level. According to the Rikt Capital, the bullish difference on the daily chart of Bitcoin is a positive sign at a very early stage on King Crypto.
Bitcoin is trading at $ 84,145 at the time of this report.
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