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Is Bitcoin Oversold?
7 years ago by techwizardry (65)
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Is Bitcoin Oversold?
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I don't think we have reached LOW yet due to psychological reasons. Since BTC's scaling saga is still unresolved, most buyers (i.e. new) will be reluctant to enter and bears will keep selling on bounces. We may see further few legs down to $1600-$1500 level. However, if BTC comes out 1st August with a positive solution, a new rally may begin.
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Good point.
The scaling saga is definitely still heavy on the shoulders of every trader/investors out there.
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Interesting insight, thnks! I was wondering if we were dead cat bouncin at the moment
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It might be! The BEB formation is certainly intriguing, but could just also be just a brief pause in the downtrend.
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Some how to see crypto
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