The cryptocurrency found a retracement after reaching a new all time high of $69,000 on November 10th, since then, it is down 20% and it looks like it's heading towards the support level in our 36.8% Fibonacci retracement on $53,835.
The Bollinger bands are opening up aggressively in the last three sessions, the current price is trading below the lower band, indicating that the price is relatively low; however, this doesn't seem to be stopping the dive.
The relative strength index is at 35% a level not seen since late July, when it started the massive rally it has been on since, if the RSI gets any lower we could be looking at a big comeback for the crypto in the mid-term. The price is currently inside the Ichimoku cloud which is often seen as market uncertainty.
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