Hello traders, here's a quick update on BTC in 8 hours timeframe.
BTC surpassed the resistance trendline in this 8-hour TF. This recent rally fulfilled our initial target of $19k. The breakout above the resistance trendline looks pretty good but we can't avoid the RSI level. The RSI is highly overbought and anytime soon it may drop. Things look pretty interesting but better be careful cause in the higher timeframe if BTC doesn't break above $19k then we may witness one last drop in BTC and then the actual rally.
What is your opinion on the recent BTC rally? Let me know in the comments below.
Thank you for reading.
Trade safely.
BTC surpassed the resistance trendline in this 8-hour TF. This recent rally fulfilled our initial target of $19k. The breakout above the resistance trendline looks pretty good but we can't avoid the RSI level. The RSI is highly overbought and anytime soon it may drop. Things look pretty interesting but better be careful cause in the higher timeframe if BTC doesn't break above $19k then we may witness one last drop in BTC and then the actual rally.
What is your opinion on the recent BTC rally? Let me know in the comments below.
Thank you for reading.
Trade safely.
