Charts of Interest 3/10

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

Consistently seeing negative sentiment dragging down the price and conversely positive sentiment times increasing price. Today, we are seeing the opposite with a spike in overall positive sentiment but a sharp drop in price erasing yesterday’s gains. Could just be that everyone sold the news on Biden's announcement following the spike from the Yellen leak. Still, it is something to see it happen on the chart to confirm the thought.

If the RSI is reliable that line across the middle is where we see overbought or oversold. It is looking like we have been in an oversold or accumulation range for a while. Anytime it has reached overbought in the last 2 months it does not last long before coming back down. BTC could possibly do this one more time if it is a strong pattern as we are dipping back to oversold.

Development activity has been strong even though the price has not. This is another sign that the network is continuing to grow as whales and developers continue to hold and build. This shows conviction by those who have either been involved for a long time or have an understanding of what they actually have in BTC while retail sells the news.