Crypto Explorer
Crypto Explorer

Crypto Explorer

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In the upcoming weeks , a bullish divergence on the weekly chart could be formed - higher low on the RSI and lower low for the #bitcoin. ( it could take some time , possibly mid. March )

In that case next support is 14K , if it doesn't hold , 12,200 -12,500 .


Higher low on the weekly RSI , is needed in order to confirm changing of the trend .

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Here's one more reason why 10-12K level could be the bottom.

It has been resistance many times , and the breaking above was the start of an exponantial growth for the crypto market.

It make a lot of sense the have a retest of the breakout .

Just facts .. not saying it's 100% correct.

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The 2W RSI for BTC is hitting a resistance zone , possible pull back and creating a double bottom ( in couple months )

The Monthly RSI which got below the level of the previous bottoms
( as mentioned in my snips ) , now is hitting that level as a resistance.

If the market continues to fall , it looks possible that the bottom will be in April / May 2023 .

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Bullish divergence for the VIX ( SPX volatillity index )

Also a big warning sign.

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HIDDEN BEARISH DIVERGENCE with the Stochastic on the 3day chart for SPX .

The next leg down will most likely start in the upcoming days , if not even today .

Be careful when the stock market opens.

#stockmarket #cryptocurrencies #crypto

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