BITCOIN has recovered from a massive sell off. It peaked at around 65000 in April 2021 and lost more than 50% of its value. It found its support at around 30,000.

Looking at the charts, sell off was imminent considering the divergence between the price and momentum indicators such as RSI. RSI was way way overbought.

Going forward, ideal bottom should be when the weekly RSI reaches sold conditions. 30,000 has acted as a formidable support but breach of this level is surely going to be catastrophic.

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