A few days ago, when BTC was trading at 62k, I told you guys that 57.8k is possible. Well guess what, it played out a few hours ago when a red candle dived to as low as 57.1k. Once again, another proof that the KDJ oscillator is simply 99.99%.

At the moment BTC is recovering and is now trading at 58.8k. So what's next for the king?

For days now, the daily KDJ oscillator is still suggesting massive sell volume from whales and retail investors. However, the selling pressure may have been pacified when candles touched the 57.1k zone and wicked off back to 58.8k.

Simply put, price recovery is highly possible for BTC. Anyway, the KDJ oscillator is still suggesting a bounce back to the 71k zone, and all the KDJ dive down target has been reached.

If your trading in spot, go ahead and start your DCA. If you're in futures, wait for candles to consolidate and move sideways. Don't catch red candles in futures, that's suicide, it's like catching falling knives.

Oh if you've been reading my post for a while and has found it helpful, please FOLLOW.

By the way, if you're still looking for a safe, low cap, x1000 token check out PITBULL. It's crazy cheap now, and the community is set to launch a telegram tapping game and pitswap 2.0.