(Data by Bitstamp, chart by TradingView)
The Bitcoin alligator was seen snoozing around $48,000 - $49,000 in early March. Then it went up to eat to over $60,000 in mid-March. Then the alligator returned to sleep between $50,000 - $60,000 until mid-April. Then it beat the hunt down to less than $50,000. A price correction took place.
The value of the first support around $50,000 was unable to hold the correction price. Moreover, will the next support value around $47,000 be able to hold? Meanwhile, the Stochastic RSI has shown an oversold value and is at its lowest level for several days. So it is not surprising that the price trend will reverse and rise again.
At this point, the mouth of the alligator seems to have opened downward. Is it ready to chase down again, or will it go up instead? Let's take a look at the next move of this Bitcoin alligator.
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