BTC has had an explosive +17.56% rally since the recent low @ $18.5k on Sept 6.
Now that we've had some fun/bullish relief, it's time to have an objective look at the what the charts are telling us.
Bullish case:
- 50 about to cross above 100 @ 4pm EST
- 9 crossed above 200 @ 12pm, with 21 following a few days behind
Bearish case:
- major OH resistance @ 300SMA $22k
- major OH resistance @ BF channel $22.4k
- major OH resistance @ downward slopping trendline from Nov ATH $23.1k
- 4hr RSI is pretty over-extended
I'm NOT saying that we can't rally further, we absolutely could.
IF we were to have a sell-off, first support target range is $20.4k - $21k.
Trade safely fellas
Now that we've had some fun/bullish relief, it's time to have an objective look at the what the charts are telling us.
Bullish case:
- 50 about to cross above 100 @ 4pm EST
- 9 crossed above 200 @ 12pm, with 21 following a few days behind
Bearish case:
- major OH resistance @ 300SMA $22k
- major OH resistance @ BF channel $22.4k
- major OH resistance @ downward slopping trendline from Nov ATH $23.1k
- 4hr RSI is pretty over-extended
I'm NOT saying that we can't rally further, we absolutely could.
IF we were to have a sell-off, first support target range is $20.4k - $21k.
Trade safely fellas