BITCOIN - POTENTIAL UPSIDE, RESISTANCE ABOUT OT BREAK?
Bitcoin is on the bullish side today, the graph shows that the price will consolidate between the blue rectangular box until a breakdown or breakout. In this case, it is more likely that we are going to see a breakout rather than a breakout down (further indicated below by the MACD & RSI). We have two resistance points, one coming diagonally and the other being horizontal, once we break through the diagonal resistance, we should head to the second one in which be a confirmation for a breakout!!
As always trade the lines accordingly.
- MACD - Look to begin continuing the crossing upward right now.
- RSI - Still in the lower ranges which leaves space for upward movement.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.
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