Whilst too early to tell due to only one touch on the top line, BTCUSD looks like it is forming an ascending triangle, which most often break bullish with target level set at the distance of the pattern formation (12.2k -9.9k) after breakout. assuming this happens then that would be a breakout at 12.2k with a max target of 14.5k
there are several bullish factors in play right now:
1) Trump is pressing for increased fiscal stimulus, thereby devaluing the dollar against bitcoin
2) RSI trend is sloping positively upwards
3) MACD is showing upward slope
4) lots of recent negative news (like OKEX withdrawl suspension) has failed to significantly surpress the price
Conclusion - BTCUSD looks set to move upwards and break the 12.2k resistance and move to 14k. I would definitely take profit at the 14k USD level as I would expect a severe correction shortly after.
there are several bullish factors in play right now:
1) Trump is pressing for increased fiscal stimulus, thereby devaluing the dollar against bitcoin
2) RSI trend is sloping positively upwards
3) MACD is showing upward slope
4) lots of recent negative news (like OKEX withdrawl suspension) has failed to significantly surpress the price
Conclusion - BTCUSD looks set to move upwards and break the 12.2k resistance and move to 14k. I would definitely take profit at the 14k USD level as I would expect a severe correction shortly after.