Bitcoin was fluctuating in a short-term channel as you ca see. Given that the channel is broke from above, a long position can be opened if it is considered as a valid broke ( if we saw a strong bullish candle with high trading volume ). There is a possibility of a pullback and continuation of the path exactly as shown in the chart.
The trend line in the RSI is also broken and will probably react to the level of 70 and keep pace with the price pullback.
The moving average of 20, has broken up the 50 and give us another positive signal.
*This Analysis is a personal opinion and should not be the basis of your trades.*
The trend line in the RSI is also broken and will probably react to the level of 70 and keep pace with the price pullback.
The moving average of 20, has broken up the 50 and give us another positive signal.
*This Analysis is a personal opinion and should not be the basis of your trades.*