Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. ๐ฉ๐ซ
We're looking at a grim situation on the BTCUSDT chart; the next local support zone / demand zone is anticipated only around $11500 . This is confirmed by a bearish technical indicator Phoenix Ascending, where the red RSI is around 20 and the grey momentum points towards bears being in control. Now the question remains, is it going to be a flash crash down or a long, cold crypto winter with a slow bleed down to 11K?
Since you're here! Here are a couple of bullish reversal patterns to look for:
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