How Far Will BTC Dip?

10 במאי 2022

There are some cases when BTC has reached its ATH followed by 80% correction in 2014 and 2018. Every time it dips, the weekly RSI reaches 30 before BTC eventually bounces back. However, this may indicate weakness in BTC as it will stay below 200 weekly SMA for some time as it reaches 11,000 to 13,000 level. In order to keep the bull market, BTC has to reach a new ATH first at around 140,000 to 150,000 before it dips to 29,000 to 30,000 again marking 80% correction. If BTC ends up in accumulation phase for the coming weeks, we should expect another bull run to a new ATH, or else, it will dip at least to 22,000 where it can find support on 200 weekly SMA. In any cases, BTC remains risky during this period.