Long-term investors might want to await another strong drop. However, it could be the case that such a drop might be a month or two away. Until Bitcoin can climb above $24.5k, the long-term trend won’t be stronglySource: BTC/USDT on TradingView
The mid-point of the range lay at $21.5k. The $21.5k zone has also acted as a good support and resistance zone over the same time period. To the north, a stiff zone dominated by sellers loomed large. Bitcoin would need to flip the $21.5k to support over the next few days in order to have a chance of moving toward $24k next week.The indicators all showed bullish intent. The Relative Strength Index was in the process of making a crossover back above neutral 50, while the Moving Average Convergence Divergence also made a bullish crossover beneath its zero line.
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