Bitcoin (BTC) is in the process of expanding to the downside. Compression often leads to expansion. Per the chart price has now fallen below the green box after falling below the compressing EMAβs just a few days ago. The green box is an important battle area for bulls and bears, and once again bears have gotten price below the green box. Michael Saylor and MicroStrategy announced yesterday that they sold 32 BTC and the market has not taken the news well. Upcoming potential areas of support are the $65.9k area and then the low $60kβs. D1 and H4 RSI are the most oversold theyβve been since early February.
Β· Open
o Daily β $71,314.43
o Weekly β $73,575.18
o Monthly β $73,575.18
Β· Support
o HTF β Green box (Testing. Supported x1)
o LTF β $65.9k
Β· Resistance
o HTF β Blue box
o LTF β $75.2k
RSI β W1 @ 37 β D1 @ 22 β H4 @ 13