Bitcoin Cooling Down
Dear Steemit friends,
We see bitcoin falling over the last few days, however, we have to admit that it was to be expected, as the 14-day RSI was very close to overbought levels.
Over the last few weeks bitcoin broke out of the bear market down trend line. After such a break out, a re-test of the bear market trend line is likely. Hence, bitcoin is likely to decline towards $7500. After that there might be a bounce up from the bear market trend line.
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Some very interesting few weeks ahead in the markets. This sharp drop off is nothing to be concerned about, it will find support and bounce back towards the 10k mark before the close of may i believe!
Thanks for the chart.
Thanks for sharing this info @myfinanceteacher, I hope the bearest time for BTC ends.