Has Crypto Market Found the Bottom?
Crypto market bounced up yesterday. Biggly. BTC was up 6%, ETH +12% and most alts were up 5-15%.
We told you so.
In our blog and newsletter from 2 days ago, we pointed to signs that markets are oversold and we could see a near-term bounce up.
When Relative Strength Index (RSI) indicator dips below 30, it signals that prices are oversold (gone too far, too fast), which is typically followed by a bounce up.
Traders can easily find such oversold assets using Pre-Set filters on altFINS’ Screener. See live results.
We also highlighted several coins with Bullish RSI Divergences including BTC, SOL and DOGE. See details.
Our two HOT trade setups RENDER and DOGE gained +24% and +17%.
We’ve placed two more coins on our HOT list today. What’s a HOT list? Those are selected trade setups with a high conviction.
RENDER: Bullish RSI Divergence
DOGE: Bullish RSI Divergence
So was this a ‘dead cat bounce’ in a downtrend or a more sustained trend reversal, maybe even a start of a new bull market?
Here’s what our CEO said in our VIP telegram group:
”Next 90 days will be tough still….market will try to interpret every signal on tariffs, Trump commentary, commerce secretary commentary etc. But the 90 days delay is an indication that they are negotiating and willing to compromise perhaps, at least with some countries. China isn’t, it seems, but EU, S. Korea, Japan, Mexico, Vietnam could find a compromise which could allow the bull market to return without too much damage to the economy and inflation. It’ll be choppy. Near term, the relief rally could go higher still….markets were quite oversold (RSI < 30) and many Bullish RSI Divergences too (couple on HOT list, but even BTC). Maybe re-load on Short Sell when RSI gets back above 70 again (overbought)”
Find more trade setups in our Technical Analysis section:
Written byLenka Fetyko
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