BTCUSD
Since the recent analysis: "BTC shows first bullish sign after 500 days", BTC had a good up move last week that broke out all strong resistances between $6000 and $7000.
BTC's momentum is still strong, as pointed out by weekly RSI reaching overbought area. Next week the MACD signal line may enter positive zone, there will be another bullish sign of BTC.
Many of good news are coming to crypto world, with the good performance last month and the US - China trade war, BTC will attract a large amount of capital to flow in, resulting in another rally to reach $10k - $12k region again, after 12 months.
There has a small obstacle for this rally, which is the MACD signal line may have rejection at zero value, brings about a massive correction of BTC that can pull it back to $6500 area.
Which will win on this decision zone, the optimism or the anxiety? Let's see BTC action next week.
P/S: I have positive thoughts on BTC next week.
Trade closed: target reached:
Target reached as prediction.
