There are clear bullish
signals that bitcoin
may move up in price temporarily, the price seems to have tested the support level
, which has been in place over the last few months, and was unsuccessful breaking below it. The RSI
is currently in an oversold area and may be signalling that the price has not gained enough momentum yet to be able to push the price back towards this resistance level
of the descending triangle
. Yet there is still a chance that the price has just taken a brief break and will continue a downward move and break this support level
, I will update this with any signals I find. Cryptocurrencies have not been having a very good time over the last few weeks as multiple crypto banks have been hacked and millions of USDs worth of crypto has been taken.