BTC Weekly RSI and Stochastic Confluence
🔸 Take a look at the Stoch.RSI indicator first. It is currently situated beneath the 4.0 level. When it was at the same level. As you can see, development usually came after such lows.
🔸 Second, look at the RSI. It has been WAY oversold. In fact, it is currently at an All-Time Low. RSI just once previously visited this area, in November 2018 when $BTC dropped from $6000 to $3000. As you are aware, Bitcoin recovered from this low, rising from $3,000 to $14,000.
🚩 Conclusion:
We must expect at least some relief and growth up to the $22,500–23,000 zone, and if it is broken upwards, we will see the $24,000–26,000 zone, as the majority of the indicators are incredibly oversold.
🔸 Take a look at the Stoch.RSI indicator first. It is currently situated beneath the 4.0 level. When it was at the same level. As you can see, development usually came after such lows.
🔸 Second, look at the RSI. It has been WAY oversold. In fact, it is currently at an All-Time Low. RSI just once previously visited this area, in November 2018 when $BTC dropped from $6000 to $3000. As you are aware, Bitcoin recovered from this low, rising from $3,000 to $14,000.
🚩 Conclusion:
We must expect at least some relief and growth up to the $22,500–23,000 zone, and if it is broken upwards, we will see the $24,000–26,000 zone, as the majority of the indicators are incredibly oversold.
Cardano stablecoin is likely to be launched soon. 🔹According to the new talks of the development team, it is expected that Cardano's new dollar stablecoin and algorithm called Djed will be launched soon. The COTI network team, with which the Cardano stablecoin was developed, stated in a recent blog post: "We are also waiting for the Vasil Cardano hard fork. "Vasil Cardano's hardfork provides the acceptance needed to safely run Djed on the mainnet."