Pretty important moment here. The trend line that originated at the beginning of April is being tested again. If this fails, along with us being below the 200 daily MA, then there is not much support for BTC until the 6k-7k area.
4 hour RSI is oversold, Daily RSI is a little low and the MACD is still showing a buy signal but is beginning to pinch. Out look is not good, however, that is normally the case when the market is about to turn around.
4 hour RSI is oversold, Daily RSI is a little low and the MACD is still showing a buy signal but is beginning to pinch. Out look is not good, however, that is normally the case when the market is about to turn around.
Comment:
Bounced off the trend line. Looks to be holding, however, we must overcome 8800 resistance to really start moving up again.