Bullish on BTC
Chart
BTC is creating an inverse head and shoulders pattern, and also seems to be creating a bigger symmetrical wedge pattern which is neither bullish nor bearish. Watching to see if BTC breaks above the neckline of the H&S and can turn that line into support. If BTC has a break to the downside of the symmetrical wedge, I would be a bit bearish on BTC, and if BTC breaks below the $43039 level of support, I will expect a steeper continuation of the BTC correction.
RSI
Back in early February, the RSI was at an overbought level of 74.68% and since then the RSI has dropped to 36.01% and made higher lows and BTC's price made lower lows signaling a bullish divergence, and with an RSI of 56%, BTC has plenty of room to grow.
MACD
Starting a bullish trend on the 4hour chart. On the daily chart, BTC is still in a bearish trend but it is weakening - signs point to a bullish trend.
Let me know your thoughts on BTC.
I wish you all prosperous trading!!:)
BTC is creating an inverse head and shoulders pattern, and also seems to be creating a bigger symmetrical wedge pattern which is neither bullish nor bearish. Watching to see if BTC breaks above the neckline of the H&S and can turn that line into support. If BTC has a break to the downside of the symmetrical wedge, I would be a bit bearish on BTC, and if BTC breaks below the $43039 level of support, I will expect a steeper continuation of the BTC correction.
RSI
Back in early February, the RSI was at an overbought level of 74.68% and since then the RSI has dropped to 36.01% and made higher lows and BTC's price made lower lows signaling a bullish divergence, and with an RSI of 56%, BTC has plenty of room to grow.
MACD
Starting a bullish trend on the 4hour chart. On the daily chart, BTC is still in a bearish trend but it is weakening - signs point to a bullish trend.
Let me know your thoughts on BTC.
I wish you all prosperous trading!!:)
ملاحظة
Either way BTC goes, I will be watching the Fib levels for support and resistance.ملاحظة
bullish!!!!!!!!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.