Bitcoin is extending the gains since the start of the new year and entred a highly important Resistance Band that was a major Support Band from June until October. Technically the market is extremely overbought (RSI = 82.276, MACD = 397.000, ADX = 57.655) and as it approaches a double psychological zone consisting by the 1D MA200 and the 20,000 level, it expected to pull back to the 1D MA50.
The 1D RSI's Higher Lows line can be used together with the candles' Higher Lows for new buy entries. When it manages to regain the 20k level, the price is expected to face strong resistance on Bands 2 & 3, which as seen formed bounce levels from mid July to early November.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
The 1D RSI's Higher Lows line can be used together with the candles' Higher Lows for new buy entries. When it manages to regain the 20k level, the price is expected to face strong resistance on Bands 2 & 3, which as seen formed bounce levels from mid July to early November.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
Telegram: t.me/investingscope
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial