HelioHelix

Bitcoin claws back lost gains as it looks to reclaim 20MA

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The range high is the November, 10th ATH of 69000 (Coinbase) while the range low is 55600. Our current weekly candle (11/14 - 11/20) high is 66300 while the weekly low is 55600. RSI has fully reset from the bearish divergence caused by the rise in price and fall in RSI from October 21 to November 10th and is currently at level 45.20 moving towards 50 on the daily chart while it's at 41.68 moving towards 50 on the 12 hour chart and at 50 on the 4 hours chart where we see a switch from bearish to bullish MACD . The RSI on the 12 hour chart foreshadows a potential bullish crossing of the MACD and Signal line which indicates the possibility of rising price action. This portends the price moving upward towards the resistance at 60k and potentially retesting the 20MA.

As always do your own due diligence. Not financial advice.