Based on BTC daily chart, it has rallied a total of around 20% since last low. BTC had a very strong support at around .382 fib level(around $31k) while a strong resistance is at .5 fib level( around $37k) which BTC is currently facing rejection at this resistance. Volume is also increasing which is showing some strength in the market.
Based on Stochastic RSI, it is indicating a bounce before touching the bottom which is a little suspicious. A healthy uptrend usually comes after a reset at the bottom of the Stochastic RSI. Next move may be consolidation or retracement based on indication.
Based on Bollinger Band, it indicates that the sharp movement is still pending.
A rejection at $37k usually bring BTC back down to $33.5k.
Based on Stochastic RSI, it is indicating a bounce before touching the bottom which is a little suspicious. A healthy uptrend usually comes after a reset at the bottom of the Stochastic RSI. Next move may be consolidation or retracement based on indication.
Based on Bollinger Band, it indicates that the sharp movement is still pending.
A rejection at $37k usually bring BTC back down to $33.5k.
