How's it going traders ?! I hope everyone is making a nice profit during this bull market and pandemic. I took some time today to piece these technical indicators together and I want to share with you what I found.
RSI
Bitcoin is making a push for $14,000 and maybe more on the next pump. I have found a support level based on previous moves during a bull market. Prices moves up and down, so when Bitcoin has strong runs to the upside, it will normally retrace to catch a breathe before its next pump up. I'm seeing during these retracement phases, Bitcoin will find support around the 45-50 level on the RSI. If you look at the chart you can see where Bitcoin found retracement support during the 2019 bull market. Also, you can see where it has found support for this bull market as well. Each scenarios look IDENTICAL to each other. That brings me to my next indicator, MACD. During those same time periods discussed, the MACD from 2019 looks IDENTICAL to the current one we see today. Looking at both indicators has me pretty bullish for the month of September. Do your own research fellow traders. Have a blessed and profitable day everyone. Give me a like if you guys can relate.
RSI
Bitcoin is making a push for $14,000 and maybe more on the next pump. I have found a support level based on previous moves during a bull market. Prices moves up and down, so when Bitcoin has strong runs to the upside, it will normally retrace to catch a breathe before its next pump up. I'm seeing during these retracement phases, Bitcoin will find support around the 45-50 level on the RSI. If you look at the chart you can see where Bitcoin found retracement support during the 2019 bull market. Also, you can see where it has found support for this bull market as well. Each scenarios look IDENTICAL to each other. That brings me to my next indicator, MACD. During those same time periods discussed, the MACD from 2019 looks IDENTICAL to the current one we see today. Looking at both indicators has me pretty bullish for the month of September. Do your own research fellow traders. Have a blessed and profitable day everyone. Give me a like if you guys can relate.