Bitcoin Looking Strong
I'm still not convinced that Bitcoin is 100% out of the woods yet, but it's looking pretty strong right now.
Here's a zoomed in look at what's occurring:
https://www.tradingview.com/x/RPHcf2ZE/
4 Hour Chart
Bullish Signs
- The resistance level at about $9100 has been breached
- The RSI is showing a bullish divergence (marked with the small red trendline)
- The MACD has also crossed bullish
Bearish Signs
- MA Cross hasn't given a buy signal (at least not on this time-frame, yet!)
- We're still in the downtrend
- Volume is still pretty low (it is the weekend...)
3 Vs 3 there then, but if the RSI continues to climb and the MACD gets higher too, then we could be in for further bounce from here.
The next key level is the resistance ahead at around $9480, if things turn bearish again, look for the support at $9100 to hold.
Any thoughts on BTCs next move? Let me know!
Thanks for viewing.
For more technical analysts and cryptocurrency related posts, see also: @toofasteddie, @gazur, @ew-and-patterns, @pawsdog, @cryptomagic, @exxodus, @beiker, @lordoftruth, @masterthematrix, @cryptoheads, @tombort, @maarnio, @steemaze & @briggsy
Not investment or financial advice, for entertainment purposes only.