Bitcoin: Setting up a 12,300/ 13,750 Resistance test.

After nearly two months of consolidation, Bitcoin seems to have hit a multiple buy signal zone.

We do not overlook the 1D Channel Down (RSI = 49.943, MACD = -141.600, Highs/Lows = -0.3575) it has been trading on since the June 25 (and 2019) peak, but the August 15 low comes with the following buy signals:

1) It nearly tested the 1W Higher Low supporting trend line which hasn't been crossed and has been providing support since March 25.

2) It almost made contact with the 9,100 1D Support that has provided buying accumulation twice already.

3) STOCH has nearly made a 20.00 bottom which in 2019 has always produced a strong rise, particularly on its last 3 visits.


The above combination of factors sets Bitcoin for a rise towards the 12,300 1D Resistance (short term) and the 13,750 1W Resistance (medium term).




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