Price Action Update

Hopefully you watched my video last night. I said today will be important and it’s shaping up to be just that.

So far we are getting the spike down that I talked about. This is setting up the next major low to buy.

Take a look at the bitcoin chart here and the orange circles. The blue line on the rsi below has been a good indicator of when to buy. Each of the last two lows saw a spike below this line and it proved to be the time to buy. Today, right as we hit an important date we are getting the spike down right to the line. Again, this is telling me we are seeing a major low forming here.

Could it go below? Sure. But that will just be an even better opportunity to buy. I expect we will see much higher prices over the next few weeks from here. And we may not see below 29k again for a very long time.