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youroptionsguy

BITCOIN BULLISH PATTERN STILL STRONG - 06/17/2021

Long
Bitcoin (BITSTAMP:BTCUSD)  
youroptionsguy  
BITSTAMP:BTCUSD   Bitcoin
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Hello! Please review my previous ideas to see how my analysis has been going, leave any comments thanks!

The reason this is still bullish:
  • We had a golden cross plotted
  • We are still in the rising wedge
  • We bounced off the wedge and closed above $39k indicating a reversal
  • We have a mild support around $38,600 were we consolidated around couple hours
  • Currently we are still above $39k a push pass $39.5 would be extremely bullish

Where things can go bearish:
  • If we dip below the rising wedge
  • Falling below $38,000 can lead to test the next support at $37,500 area
  • The RSI is getting close to the Overbought range
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