After breaking the yellow resistance at 8200 with decent followthrough, breaking out of January downtrend.Now, bitcoin is in full bull mode. The volume is very significant, RSI is up to levels from December.
On the weekly timeframe we might observe the first bull MACD cross since October 2016.
Best case scenario for the bulls is to form a higher low on the daily, ideally holding the support of 8200.
For now there are no red flags for the bulls, things to look at is the 8200 level and high amount of bear volume.
These occurances may be caused by the whole ETF fuzz, doesn't really matter. Watch the charts and you'll be good.
SL 8210
On the weekly timeframe we might observe the first bull MACD cross since October 2016.
Best case scenario for the bulls is to form a higher low on the daily, ideally holding the support of 8200.
For now there are no red flags for the bulls, things to look at is the 8200 level and high amount of bear volume.
These occurances may be caused by the whole ETF fuzz, doesn't really matter. Watch the charts and you'll be good.
SL 8210
Comment:
Just to clarify - by 8200 support I meant the yellow line, essentially it is