BTC : still awaiting correction of excess sell off Bitcoin / U.S. dollar BITSTAMP:BTCUSD FermiParadox I expect a significant upside turn of BTC price action in the next 1-4 weeks. Why? 1. The excess sell off in May, which took price action all the way down to the 2017/18 cycle bottom support line, has still not been corrected. That excess sell off was an equal response in terms of volatility to the overshooting which took BTC to the "unreal" Nov 21 ATH. 2. Following the mid June capitulation of miners, we observe considerable bullish divergence in RSI . Is that scenario supported by fundamentals? Think so: fossile energy asset prices tank, inflation will follow (or has already started following). FED will have to cut rates soon unless they want to see USD real rates blow off the roof. That will correct the excessively overbought USD against the world's currency basket, including BTC .