BTCUSD moved back at ~40K as expected, what will happen next?
In my previous analysis, I suggested that BTCUSD will have another bull movement towards ~40K where it faces a resistance, and then should decide weather it can go up further, or start a downward correction.
Now, let's have a close eye using both trend lines and RSI in 1H chart. As you see, in the last two downward corrections, we had both RSI and price trend lines broken at the same time when the price correction went to an end. Now, if we assume ourselves in the same situation and history repeats, we can expect another break which caused uptrends to continue towards higher further. So we should have close eye on RSI.
Let's see and watch what will happen in the next hours!...
Now, let's have a close eye using both trend lines and RSI in 1H chart. As you see, in the last two downward corrections, we had both RSI and price trend lines broken at the same time when the price correction went to an end. Now, if we assume ourselves in the same situation and history repeats, we can expect another break which caused uptrends to continue towards higher further. So we should have close eye on RSI.
Let's see and watch what will happen in the next hours!...
Trade active:
The history repeated again: RSI and downward trend lines were broken together. But this time, we can also notice two other major events: the $40 K resistance level was broken, and at the same time, we are now being more distant from the top line of the channel. This will bring hopes to see higher targets, even $48 K! Let's wait and see what this magic digital coin will do next!...
