TR_Works

BTCUSD daily trend analysis

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has been on a downtrend throughout this whole year. As per market psychology, following the massive surge around this time last year(2017), we should expect either a reversal of the downtrend or some resistance.

Using EMA 13, EMA 52 and RSI 13 for technical analysis , the RSI is showing divergence around 17th Dec 2018 indicating a slow down of the trend. The crossing of EMA 13 over EMA 52 should indicate a continuation of the upward trend.