As you can see, btc found support at ~50K and is currently in a nice bull channel. We will get some resistance in the 54.7-55K’s area soon.
- If the bull can break this resistance, we will continue up to 56-56.4K area where btc will see more resistance.
- If the bear takes over, I see btc re testing the 50K, possible 49K area. Where we may get a double bottom / RSI divergence before the up trend starts.
If btc overcomes the 56K resistant area, we may find it re visiting the 60-62K zone.
Overall. LONG TERM - bull. MEDIUM - bear. SHORT - bull.
Happy trading
- If the bull can break this resistance, we will continue up to 56-56.4K area where btc will see more resistance.
- If the bear takes over, I see btc re testing the 50K, possible 49K area. Where we may get a double bottom / RSI divergence before the up trend starts.
If btc overcomes the 56K resistant area, we may find it re visiting the 60-62K zone.
Overall. LONG TERM - bull. MEDIUM - bear. SHORT - bull.
Happy trading