BTCUSD made a bullish exit, potential to rise further!

BTCUSD made a bullish exit from its descending resistance-turned-support line and has the potential to rise to its 1st resistance at 9465 (50% Fibonacci retracement, horizontal overlap resistance). If it surpasses this level, it could possibly rise to the 2nd resistance at 9847 (61.8% Fibonacci retracement, cup and handle exit potential). We have identified supports at 8542 (horizontal overlap support) and 7994 (horizontal overlap support).

RSI (89, 5, 3) shows a corresponding bullish breakout from its descending resistance-turned-support line.