kvyas4988
Long

BTC. What next?

BINANCE:BTCUSDT   Bitcoin / TetherUS
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As we saw a price crash down til $8250 range a few days back from a high of $11700 range. We saw a declining channel in BTC ; however, we also saw an uptrend in Stoch RSI . The RSI was in in oversold zone. The Stoch RSI on daily also has bottomed and curled up. Last time we reached the bottom at Stoch RSI on a daily, we hit $6,000 and that was a big bounce for a reversal. This could trigger a price reversal and we could soon continue an uptrend and try to break psychological Resistance at $10,000. However the volume seems to be low the bounce was see but it was not with a lot of steam( volume ). We could try to break $9500 but BTC seems to to be struggling. We might pull back and try again. Let's see how it turns out. The market it still kind of in a bearish trend . I am trying to learn every day and trying to analyse every time BTC or any other coin moves. I hop I can learn to read this charts better as time passes. This is just for my information and knowledge and not a financial advice whatsoever.
Trade active: We have broke above the channel and we got the volume we needed to break above $9,500. We shall take a breather and retrace back. A healthy correction is needed for another run higher.

Target 1: $9500-reached
Target 2: $10000 Resistance
Target 3: $12500 Major Resistance
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