Bitcoin gets closer to 20K resistance BtcUsdt Analysis
Btc has created a new bullish pennant on the 4-hour candlestick chart. It is comforting that the last 4 hour candles are above the simple Moving Averages (Sma 10, 50, 100 and 200) and Rsi retraces to the 60 ~ 65 band. We can see the same comfort when we look at exponential moving averages. Charts are still moving above Ema 20 and 50. Above the Ichimoku cloud, Span A's above Span B, Tenkan Sen 9-day and Kijun Sen 26-day movements still give confidence towards the 20,000 band.
On the other hand, it should not be ignored that Rsi is very close to saturation point in 1-day, 1-week and 1-month charts. Rsi's return to 16800 ~ 16900 levels according to 1-day candles could be a comforting move. Rsi 14 can then only go down to level 70. however, this does not mean that the increase will stop at these levels.
If the closing this weekend is between 17500 ~ 18000, Btc now releases itself to the movement of Altcoins. That's what the big boss BTC said.
This is not investment advice. It is an amateur work. Good luck to everyone.
On the other hand, it should not be ignored that Rsi is very close to saturation point in 1-day, 1-week and 1-month charts. Rsi's return to 16800 ~ 16900 levels according to 1-day candles could be a comforting move. Rsi 14 can then only go down to level 70. however, this does not mean that the increase will stop at these levels.
If the closing this weekend is between 17500 ~ 18000, Btc now releases itself to the movement of Altcoins. That's what the big boss BTC said.
This is not investment advice. It is an amateur work. Good luck to everyone.
Trade closed: target reached:
profit in the pocket =)