Technical analysis by Farzad_ninety9 about Symbol BTC on 1/8/2024

Blackrock was supposed to buy $10 million worth of Bitcoin in January, which was postponed to January 5. On January 3, everyone witnessed what happened to Bitcoin, which is still going on. Considering that Bitcoin is in the weekly time frame. It has a negative divergence, and Blackrock has not made any purchases knowing this. This is my personal opinion, and it is likely that the SEC will not approve ETFs on January 10th, and this will lead to a further fall in Bitcoin. I think the RSI indicator will fall to the 50 line area in the weekly time frame and to the 30 line area in the daily time frame and after that we will see another increase in Bitcoin.