THE QUESTION EVERYONE IS ASKING, HAVE WE REACHED THE BOTTOM YES OR NO?
IN MY OPINION THIS IS STILL NOT ACHIEVED. HERE'S WHY;
CME-GAP: ALTHOUGH WE HAVE ALREADY TOUCHED THE CME-GAP, BUT IT IS NOT FILLED YET. IT WILL LIKELY BE FILLED, IN THE NEXT HOURS / DAYS.
DAYLY RSI NOT YET IN OVERSOLD AREA: WHEN WE LOOK AT THE PAST WE CAN NOTICE EVERYTIME WHEN WE HAVE EXTREME DOWNWARD PRICE ACTION THE PRICE BOTTOMED OUT AND TURNED WHEN WE HAVE REACHED THE OVERSOLD AREA ON THE RSI.
SUPPORT ZONE AROUND $10100 TO $10500: WE ARE CURRENTLY MOVING INTO THE MAJOR ZONE FROM $10100 TO $10500. HOWEVER THIS IS NOT BEEN BROKEN YET, IT LOOKS LIKE IT WILL BREAK. SIMPLY BECAUSE WE ARE CONTINUOUSLY TESTING THE BOTTOM LINE OF THE ZONE. AND THE MORE A ZONE IS TESTED, THE GREATER THE CHANCE THAT IT WILL BREAK.
MAJOR TREND LINE: IT LOOKS LIKE WE ARE MOVING TOWARDS THE MAJOR BLUE TREND LINE, THIS TREND LINE IS ALREADY ACTIVE SINCE THE 2019 DUMP. EVER SINCE, IT HAS SHOWN IMPORTANT SUPPORT. AS LONG AS WE STAY ABOVE THIS LINE IT IS STILL BULLISH IN MY OPINION.
IN MY OPINION THIS IS STILL NOT ACHIEVED. HERE'S WHY;
CME-GAP: ALTHOUGH WE HAVE ALREADY TOUCHED THE CME-GAP, BUT IT IS NOT FILLED YET. IT WILL LIKELY BE FILLED, IN THE NEXT HOURS / DAYS.
DAYLY RSI NOT YET IN OVERSOLD AREA: WHEN WE LOOK AT THE PAST WE CAN NOTICE EVERYTIME WHEN WE HAVE EXTREME DOWNWARD PRICE ACTION THE PRICE BOTTOMED OUT AND TURNED WHEN WE HAVE REACHED THE OVERSOLD AREA ON THE RSI.
SUPPORT ZONE AROUND $10100 TO $10500: WE ARE CURRENTLY MOVING INTO THE MAJOR ZONE FROM $10100 TO $10500. HOWEVER THIS IS NOT BEEN BROKEN YET, IT LOOKS LIKE IT WILL BREAK. SIMPLY BECAUSE WE ARE CONTINUOUSLY TESTING THE BOTTOM LINE OF THE ZONE. AND THE MORE A ZONE IS TESTED, THE GREATER THE CHANCE THAT IT WILL BREAK.
MAJOR TREND LINE: IT LOOKS LIKE WE ARE MOVING TOWARDS THE MAJOR BLUE TREND LINE, THIS TREND LINE IS ALREADY ACTIVE SINCE THE 2019 DUMP. EVER SINCE, IT HAS SHOWN IMPORTANT SUPPORT. AS LONG AS WE STAY ABOVE THIS LINE IT IS STILL BULLISH IN MY OPINION.