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11.24BTC Silk Road
The daily death cross looks scary, but in reality, it has averaged a 45%+ increase after it appeared in the past; the 4-hour chart is about to break the descending wedge, and the RSI is no longer oversold. There are over 5 million BTC on-chain at a loss, with a net unrealized profit margin of only 0.476, exactly the same as before the rebound in April, the bottom is stable!
The Federal Reserve wants to ease, and regulation is becoming clearer, and institutions are still eager to buy!
BTC guidance: Enter long at 85600-86600, aim for 89300, 89500, if broken look higher, keep good defense. $BTC