Hello All. Once again let us take a look at weekly BTCUSD pair.
We see that bitcoin continues to remain inside a major ascending channel/rising channel and since last week we have formed a (green) bullish hammer candlestick pattern.
This rising channel had an upward movement with a potential target at around $73,000. This is a 100% potential long trade (without leverage trading).
Another bullish sign is the weekly 200 EMA which indicates that the current price is trading above the 200 EMA .
Additionally, the weekly stochastic RSI remains extendedly oversold with a reading below 20.
I see bitcoin going at least to $55000, the middle of the rising channel, and with enough volume and buying pressure, to a new ATH at $73,000
Check out last weeks' bitcoin update below.
Thanks for reading, and stay tuned. Enjoy.
We see that bitcoin continues to remain inside a major ascending channel/rising channel and since last week we have formed a (green) bullish hammer candlestick pattern.
This rising channel had an upward movement with a potential target at around $73,000. This is a 100% potential long trade (without leverage trading).
Another bullish sign is the weekly 200 EMA which indicates that the current price is trading above the 200 EMA .
Additionally, the weekly stochastic RSI remains extendedly oversold with a reading below 20.
I see bitcoin going at least to $55000, the middle of the rising channel, and with enough volume and buying pressure, to a new ATH at $73,000
Check out last weeks' bitcoin update below.
Thanks for reading, and stay tuned. Enjoy.