A technical analysis oscillator following an oversold or overbought of an asset, Williams% R shows that a hard oversold cloud is now roaming around Bitcoin.
Bitcoin's Williams Percent Range (WPR) rate is now around 83%, according to Oliver Kharif, of Bloomberg. According to the WPR index - between 80% and -100%, entering the oversold category, while - 0% - up to 20% is entering the overbought field.
Analysts believe that Bitcoin's oversold position by the WPR could bring a short-term upward trend in the future, and that Bitcoin could exceed a solid resistance line of $ 6,900.
Since February, Bitcoin has consistently jumped over the $ 6,000 line and even broke a new record in the last month before it fell again to $ 6,000. The same trend has begun to emerge in the markets over the past two weeks, and many experts believe that a strong uptrend will begin soon.
In August, Bitcoin scored such a stable picture for the first time since June of your passing, and managed to stay between $ 6,000 and $ 6,500. About 15 months after that, on September 15, the price of Bitcoin is still around $ 6,500
To start a solid rally after an entity has corrected 80% of its life, it is necessary to stabilize and then hit a rock bottom.
In the past days, famous billionaire Michael Novogratz said that Bitcoin's bottoming process was complete and that the rise would begin. Let's see what happens next.
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit