BTCUSD is still trading in the huge channel where it has just confirmed the lower line of the channel and is now building a range here.
Above 9000 USD level BTCUSD has still some good support where it can build more potential
BTCUSD has touched the 200 and 100 EMA and is testing them which is normally a bullish sign where when bitcoin manages to go
above these levels can confirm bullishly and move higher.
The paypal announcement to sell bitcoin to its over 250 million customers was a big deal for bitcoin this is why there can come a
boost in demand as paypal going to increase the promotion and adaptation.
On the bearish side it is important for bitcoin to hold the lower line of the channel and confirm it otherwise there can come
a bearish breakdown when BTCUSD fells below that level.
The RSI is sending moderate signs where an oscillation to the higher or lower boundary will confirm the proper trend which is more
likely a bullish trend at the moment of the outcome.
BTCUSD will confirm bullish when it takes out the EMAs and confirms above the falling resistance and BTCUSD will confirm bearish
when it confirms below the lower line of the huge channel.
TREND: Sideways with upside potential
EXPECTATION: Breakout
TREND AFTER EXPECTATION: More bullish as bearish
FORMATION: Huge channel
PREV: 9132.96
OPEN: 9136.89
VOLUME: 4.048K
DAY'S RANGE: 9089.80 — 9300.00
Above 9000 USD level BTCUSD has still some good support where it can build more potential
BTCUSD has touched the 200 and 100 EMA and is testing them which is normally a bullish sign where when bitcoin manages to go
above these levels can confirm bullishly and move higher.
The paypal announcement to sell bitcoin to its over 250 million customers was a big deal for bitcoin this is why there can come a
boost in demand as paypal going to increase the promotion and adaptation.
On the bearish side it is important for bitcoin to hold the lower line of the channel and confirm it otherwise there can come
a bearish breakdown when BTCUSD fells below that level.
The RSI is sending moderate signs where an oscillation to the higher or lower boundary will confirm the proper trend which is more
likely a bullish trend at the moment of the outcome.
BTCUSD will confirm bullish when it takes out the EMAs and confirms above the falling resistance and BTCUSD will confirm bearish
when it confirms below the lower line of the huge channel.
TREND: Sideways with upside potential
EXPECTATION: Breakout
TREND AFTER EXPECTATION: More bullish as bearish
FORMATION: Huge channel
PREV: 9132.96
OPEN: 9136.89
VOLUME: 4.048K
DAY'S RANGE: 9089.80 — 9300.00