Feb. 24 at 11:26 AM
$BULL $BTC.X
$HOOD Bitcoin on a weekly chart has entered this way oversold area only once. It lasted for 2 weeks. Look below, it entered this exact area only once before on 1/13/22-1/27/22 .
We have an RSI of 25.66 . My opnion in this oversold area is based on history. Last weeks close or the RSI matched 2022 and Monday is the beginning of the end of the downturn. If history repeats itself then this starts coming off these RSI lows by Monday March 9th or 2 weeks. I own
$BULL not Bitcoin but has affected these other stocks like
$HOOD. This doesn't mean I'm right but the same pattern could emerge. On
$BULL, new lows trading like shit so have no idea or history on this.
$HOOD think
$67 area.
The 2nd chart:
Looking at the Elliot Wave and the Bollinger Bands to try to predict the bottom. The first is double bottom on the lows of Bit on 2/2/26 of 60,000 or lower Bollinger Bands of 60,955 or the Elliot wave ( 3 points with blue arrows).
Looking for relief in 2 weeks .GL