Incredibly Bullish on this trend around BTC
Here are the major tenets of this analysis:
We've seen a lot of respect for the 200 SMA to identify areas of demand around the digital asset. With a recent break, we can expect this trend to continue. The increasing trend on the RSI respecting the yellow support further confirms this trend. We haven't hit 'Oversold' yet, so the movement is here to stay.
(Also, No negative divergence)
As for patterns, the inverted head and shoulders as well as the ascending triangle (STACKED)... You get the point :)
Best of luck, traders and all love out there
Here are the major tenets of this analysis:
- Recently broken inverted head and shoulders
- Recently broken ascending triangle
- Recently broken 200 SMA (which has been a good indicator for demand zones)
- Strong trend on the RSI without being oversold
We've seen a lot of respect for the 200 SMA to identify areas of demand around the digital asset. With a recent break, we can expect this trend to continue. The increasing trend on the RSI respecting the yellow support further confirms this trend. We haven't hit 'Oversold' yet, so the movement is here to stay.
(Also, No negative divergence)
As for patterns, the inverted head and shoulders as well as the ascending triangle (STACKED)... You get the point :)
Best of luck, traders and all love out there