hughestu

Bulls take control...for now. Two indicators for consideration.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
In my last TA https://www.tradingview.com/chart/BTCUSD/ydlpQPOF-Interesting-bull-patterns-on-24hr/ I looked at BTCUSD on the 24hr chart and indicated that an MACD and RSI bullish divergence were forming.

These bullish patterns have now clearly formed and we even see a bullish crossover on the MACD . Bulls regain control... for now.

Two major flags to consider in terms of bears taking over again.

1. Bear Resistance Trendline indicated in purple

2. RSI 58-60 level.

I would also consider the MACD historgram resistance level (500-530) as an indicator if it gets to that level.
Mar 20
Comment:


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Bulls take control...for now. Two indicators for consideration. by hughestu on TradingView.com
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