Satoshi Nakamoto Obituary – Cause of Death : “BTC Daily RSI at Floor, No Bullish Divergence”

By | June 24, 2024

deathobituary– Cause of Death News : According to recent analysis, the daily Relative Strength Index (RSI) for Bitcoin is currently at a low point, indicating potential oversold conditions. However, there is no clear bullish divergence present at this time.

Additionally, it is suggested to disregard the Fibonacci level of 1, as it is believed that the market may be experiencing a Macro wave 4 ABC zig-zag alternation, potentially reaching the 1.618 Fibonacci level.

Despite these potential bearish signals, there is a glimmer of hope as some analysts point to the possibility of a 5-wave move up to the 0 Fibonacci level, indicating a potential wave 1 formation. This could suggest that the recent pullback in Bitcoin’s price has already occurred.

It is important to note that this analysis is still evolving, and there may be new developments that could impact Bitcoin’s price movement. As such, it is recommended to stay informed and monitor the market closely for any potential shifts in the trend.

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