Hello all. Bitcoin is trading in the descending channel on the 4hr chart, and heading towards the bottom of the channel which sits around 54k. This can be a good entry position for a long trade.
Another entry level for bitcoin sits at 50k level which we discussed in the previous post. This level corresponds with the fib golden pocket and also the monthly support line. Entry level is also indicated in the chart.
Despite this small correction/drop, the stochastic RSI remains in the over sold territory which is a bullish sign. I see Bitcoin trading over 100k by the end of the year.
Thanks for reading, and stay tuned. Enjoy.
Another entry level for bitcoin sits at 50k level which we discussed in the previous post. This level corresponds with the fib golden pocket and also the monthly support line. Entry level is also indicated in the chart.
Despite this small correction/drop, the stochastic RSI remains in the over sold territory which is a bullish sign. I see Bitcoin trading over 100k by the end of the year.
Thanks for reading, and stay tuned. Enjoy.