BTCUSD - 1D Chart Analysis
After 11 days of sideways movements, the price of Bitcoin has started the year with the right foot and it had a progress of 4.97% so far.
The bullish trend has started on the 18th of December(on a 1D chart) and since then we could see 4 attempts of the price to cross back the 20 days Moving Average but all 4 were failed.
At this stage, the RSI is 51 so it can be considered "neutral", the Stochastic is close to have a crossover which will indicate a possible continuation of the uptrend, while the MACD is still above the Signal and it can be considered as a confirmation of this scenario.
Considering the trading volumes as well, we have to admit that these ones had better days in the past and any movement we are expecting it should't be to big.
Without any big fundamentals, there are big chances to see the price getting close to the Resistance Level 1 of 4283$ in the following days.
The bullish trend has started on the 18th of December(on a 1D chart) and since then we could see 4 attempts of the price to cross back the 20 days Moving Average but all 4 were failed.
At this stage, the RSI is 51 so it can be considered "neutral", the Stochastic is close to have a crossover which will indicate a possible continuation of the uptrend, while the MACD is still above the Signal and it can be considered as a confirmation of this scenario.
Considering the trading volumes as well, we have to admit that these ones had better days in the past and any movement we are expecting it should't be to big.
Without any big fundamentals, there are big chances to see the price getting close to the Resistance Level 1 of 4283$ in the following days.
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