For the 4th day in a row it is trading around $3400 and technical analysis indicates on the possible rally almost exactly one year after reaching peak levels.
1. RSI on Daily chart increases above 30 after strong oversold levels.
2. Moreover, we see divergence between price and RSI index, with the last reaches higher lows while BTCUSD fell to lower lows.
Just to be clear, I think, we see stop of the sale-off, not the rebound yet. Formally, it will be possible to talk about the rebound after the price growth above previous local highs ($4300). The dynamics of volumes (growth on price fall) speaks about the predominance of sales by now.
1. RSI on Daily chart increases above 30 after strong oversold levels.
2. Moreover, we see divergence between price and RSI index, with the last reaches higher lows while BTCUSD fell to lower lows.
Just to be clear, I think, we see stop of the sale-off, not the rebound yet. Formally, it will be possible to talk about the rebound after the price growth above previous local highs ($4300). The dynamics of volumes (growth on price fall) speaks about the predominance of sales by now.