RE: Frustrating23 Apr 2021 10:21
On TA perspective , BTC is now in technical oversold zone with RSI below 30 for first time.
However, When it went on new year bull run it went well in technical overbought range and stayed up there for some time, so reverse could happen here.
200MA Safety net support is still all the way down @ 34500, so potentially can still drop a fair way before rebound.
50MA is @56/57k which is support level to attack £60k.
It’s not gone thru any period of consolidation yet this year so may well do it now in the 40s range for a while, to let everything normalise before another potential run and attack of 60k+.
But outlook overall is it’s still bullish for now