BTC is still overall bearish. BTC is still sitting under the 50,200 EMA which tells us that it's still in a bearish formation. Until we cross the 50 EMA then that will show signs of a bullish reversal.
BTC is currently sitting on daily support at $6740 if we can hold here and have a strong bullish engulfing candle then we can see BTC head to $6800-$7000 range. If we don't hold support here we're looking to head back to $6560 which is previous support and trend line.
MACD has just crossed up so it is showing signs that we could have a push here with price but again this is only one factor we will need other factors to line up also such as a bullish engulfing, influx of volume, cross over of 50 EMA. Still a few factors to achieve before i'm certain BTC is in a bullish movement
BTC is currently sitting on daily support at $6740 if we can hold here and have a strong bullish engulfing candle then we can see BTC head to $6800-$7000 range. If we don't hold support here we're looking to head back to $6560 which is previous support and trend line.
MACD has just crossed up so it is showing signs that we could have a push here with price but again this is only one factor we will need other factors to line up also such as a bullish engulfing, influx of volume, cross over of 50 EMA. Still a few factors to achieve before i'm certain BTC is in a bullish movement