BTC starts Friday by falling below the psychological $70,000 level. A new low has been set for the autumn correction: $67,568. Meanwhile, on the 5-minute timeframe, there is a fresh, sustained downtrend with a new concentration of targets, but it does not extend below this low. This suggests the price is deeply oversold.
The key thing for us is that the potential daily-timeframe low marker for #BTC has still not turned into a Strong signal, which we’re waiting for before adding another 1/3 of our deposit to the conservative investment portfolio. BUT since last night, the market has moved much closer to this point. And, as we’ve already written, news about producer inflation in the US could help bring it about.
There is still no Strong signal on TOTAL, TOTAL2, TOTAL3, or OTHERS, where today is also the third potential daily-timeframe low marker.
At the same time, as you can see in the screenshot, #BTC does have such a marker on the 4-hour timeframe. MOREOVER, there are already two such markers there, preceded by a regular marker. In other words, we have three markers—the maximum number. This supports the idea that sellers may no longer be able to push the price lower. There is also one Strong signal for a low on the 5-hour timeframe.
There is a high probability that we’ll add to our conservative investment portfolio today.
The key thing for us is that the potential daily-timeframe low marker for #BTC has still not turned into a Strong signal, which we’re waiting for before adding another 1/3 of our deposit to the conservative investment portfolio. BUT since last night, the market has moved much closer to this point. And, as we’ve already written, news about producer inflation in the US could help bring it about.
There is still no Strong signal on TOTAL, TOTAL2, TOTAL3, or OTHERS, where today is also the third potential daily-timeframe low marker.
At the same time, as you can see in the screenshot, #BTC does have such a marker on the 4-hour timeframe. MOREOVER, there are already two such markers there, preceded by a regular marker. In other words, we have three markers—the maximum number. This supports the idea that sellers may no longer be able to push the price lower. There is also one Strong signal for a low on the 5-hour timeframe.
There is a high probability that we’ll add to our conservative investment portfolio today.
