After having left the long negative trend by crossing the falling trend line the BTC-coin rised up to the next swing trend line (5457$).
The height of the rise corresponds with the spread of the triangle in which BTC has been captured since nov 29.
RSI has made a jump as well and is now in the overbought zone. Looking back one can consider that every time BTC had reached this high level a correction followed. It shalll not fall under the dotted line, otherwise a continuation to the long descending trend line would be probable.
As long as BTC stays above the long descending trend line (white) the new bullish scenario will be alive.
After the consolidation BTC shall cross the swing trend line (5457$) and climb up to the next resistance, fib retracement line at (6272$), also a swing trend line.
The height of the rise corresponds with the spread of the triangle in which BTC has been captured since nov 29.
RSI has made a jump as well and is now in the overbought zone. Looking back one can consider that every time BTC had reached this high level a correction followed. It shalll not fall under the dotted line, otherwise a continuation to the long descending trend line would be probable.
As long as BTC stays above the long descending trend line (white) the new bullish scenario will be alive.
After the consolidation BTC shall cross the swing trend line (5457$) and climb up to the next resistance, fib retracement line at (6272$), also a swing trend line.
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some movements within the parallel trend channel, rebounded on upper limit, now turning to the bottom
next support on 5.200 (lower limit of the channel)
Indicator RSI just turned as well
EMA 50 is far below the actual price level
next support on 5.200 (lower limit of the channel)
Indicator RSI just turned as well
EMA 50 is far below the actual price level
Comment: