1/14/20 review of BTC from Coinbase usig the Daily chart.
BTC is about to test the down trend-line originating back in June 2019. It is also testing the horizontal resistance line at $8,800. 200 day EMA is still acting as support for BTC price. Overall, BTC has had a strong move up from $6.8K acting as the new 2020 base.
I am bullish BTC, but the RSI and MACD have been on the move and are a bit high for me. Looking for BTC to retest $8K for a better risk/reward entry point.
BTC is about to test the down trend-line originating back in June 2019. It is also testing the horizontal resistance line at $8,800. 200 day EMA is still acting as support for BTC price. Overall, BTC has had a strong move up from $6.8K acting as the new 2020 base.
I am bullish BTC, but the RSI and MACD have been on the move and are a bit high for me. Looking for BTC to retest $8K for a better risk/reward entry point.
