legacyFXofficial

BITCOIN CONTINUATION TO WHERE?

OANDA:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN

In daily timeframe Chart, Bitcoin has been forming Descending Channel Pattern..
At the Moment, Bulls Facing 50k Crucial Resistance, if resistance got cleared, expecting bullish wave towards the 72k (new ATH ) in coming days.
In Bearish scenario, if Bulls failed to clear the resistance, Bitcoin might retest the 40k support area (MA128)
MA128 ( 40 .8k) Acting as key support, in late September, Bitcoin Bulls defended it well.
(In Worst Case, if Bitcoin Bulls lost this MA128, Bitcoin might retest the 27k Area in late October)
Since 30th July, RSI ( Relative Strength Index ) has been Moving Below the Trendline Resistance, If we break the RSI resistance things could heat up quite easily.

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