Hey Folks! Here's my latest technical analysis on BTC. Lets jump right into it. Looking at the 2 hour chart in Bitfinex. We can see that there's a Double Bottom formation. Moving Average Convergence and Divergence (MACD) is moving upwards and the Stochastic RSI indicator (Stoch Relative Strength Indicator) is showing that the blue line went under the orange line which means that the market has been overbought.
For some daytime traders, this is a good time to take their (long and short) positions as the market is somehow preparing to go up or down.
Disclaimer: This analysis is for informational purposes only and is not a recommendation to buy or sell anything.
For some daytime traders, this is a good time to take their (long and short) positions as the market is somehow preparing to go up or down.
Disclaimer: This analysis is for informational purposes only and is not a recommendation to buy or sell anything.