3 reasons why Bitcoin is not 'toang' yet despite the red-hot market
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Many people are panicking because the market is blood red, but I personally still believe Bitcoin is not 'toang' – here are the 3 main reasons:
1. RSI Divergence: The price is dropping but the RSI on the daily is creating higher lows => a reversal signal is approaching.
2. Altcoin market cap is decreasing sharply: Investors are pulling money out of Altcoins and waiting to catch the bottom of BTC – there is still liquidity in the market.
3. Weak crowd psychology: On Feed & Twitter, everyone is scared => the market often does the opposite of the crowd.
This is not investment advice, just my personal perspective after having my morning coffee.
What do you think? Will BTC bounce back, or continue to drop to 52k?
