Hi everybody and I hope you will be well and healthy in this Corona virus situation
after that BTC broke out from historical boundaries ( black boundaries ) we saw a bounce from 47000 $s to 55000 $ that came with news around entering Facebook on bitcoin. It reminds us the news of Tesla on nearly 35000 $ price so maybe the history will repeat again, we see the price is moving towards 58000 $ and if this movement will be able to cross the black boundary around 58000 $ maybe we could say that bitcoin has broken the boundary upward and a new uptrend trading will be started but if the resistance on the first black boundary shows a strong resistance we could face a new downtrend trading so the news around Facebook maybe make good changes as well as Elon Musk tweet on 35000 $ price we should see.
Another analysis is that we see a downward movement on RSI in 4 Hours timeframe that can show a price correction to the 52000 $ area if we will see a good support both on price area and RSI movement, maybe it will be a signal for a new uptrend on BTC and all Altcoins.
Thanks for reading this Analysis.
after that BTC broke out from historical boundaries ( black boundaries ) we saw a bounce from 47000 $s to 55000 $ that came with news around entering Facebook on bitcoin. It reminds us the news of Tesla on nearly 35000 $ price so maybe the history will repeat again, we see the price is moving towards 58000 $ and if this movement will be able to cross the black boundary around 58000 $ maybe we could say that bitcoin has broken the boundary upward and a new uptrend trading will be started but if the resistance on the first black boundary shows a strong resistance we could face a new downtrend trading so the news around Facebook maybe make good changes as well as Elon Musk tweet on 35000 $ price we should see.
Another analysis is that we see a downward movement on RSI in 4 Hours timeframe that can show a price correction to the 52000 $ area if we will see a good support both on price area and RSI movement, maybe it will be a signal for a new uptrend on BTC and all Altcoins.
Thanks for reading this Analysis.