BTC USDT Update as of January 12, 2022 (Ken)
1. Yesterday, January 11, 2022. Price action entered the Phase D of Wyckoff Pattern. A bounce up happened after hitting the $40K strong support.
2. RSI entered the oversold area starting January 7 and left making an upward trend starting January 8.
3. MACD Line crosses over the signal line last January 8. MACD Line remains above the Signal Line up to now.
4. Other significant indicators show Bull Trend
5. From Elliot Wave chart, the price already hit the point D and bounced upward.
Expect some retest if the price reaches around $46K, the previous relevant support.
1. Yesterday, January 11, 2022. Price action entered the Phase D of Wyckoff Pattern. A bounce up happened after hitting the $40K strong support.
2. RSI entered the oversold area starting January 7 and left making an upward trend starting January 8.
3. MACD Line crosses over the signal line last January 8. MACD Line remains above the Signal Line up to now.
4. Other significant indicators show Bull Trend
5. From Elliot Wave chart, the price already hit the point D and bounced upward.
Expect some retest if the price reaches around $46K, the previous relevant support.