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crypto-tradesman
Feb 17, 2022 3:46 PM

BTC is bullish but may face some local setback Long

Bitcoin / U.S. dollarBitstamp

Description

The Daily chart shows an inverse Head and Shoulder pattern which is trend reversal pattern (bullish signal)
The MACD is above 0 (bullish signal)
RSI seems to be strong

Having said this we might see a downturn to around 40K or even 38K before we see it bounce back to 58K support level

This is not financial advise.

Comments
SETIZEN
RSI is showing a possible sign for a trend continuation (Down)
crypto-tradesman
@SETIZEN, Yes, need to see if the resistance at 41K and 38K holds
investr
What I see is a daily double top forming
crypto-tradesman
@investr, True but can you also compare the 4h and 2h chart?
investr
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