BTCUSD (1H) - short term bullish bias
Following yesterday's surge, an overshot RSI signalled an over-extension. The pull back was later met with strong buying interest at the support level of 7100. As the price stabilised we expect the recovery to carry on with 7600 as the next target. should enough bullish momentum build up the faster moving average would cross above the slower one in a textbook bullish confirmation. An extended rally may even push the price towards previous highs around 7800.
Key support: 7600
Key resistance: 7100
Following yesterday's surge, an overshot RSI signalled an over-extension. The pull back was later met with strong buying interest at the support level of 7100. As the price stabilised we expect the recovery to carry on with 7600 as the next target. should enough bullish momentum build up the faster moving average would cross above the slower one in a textbook bullish confirmation. An extended rally may even push the price towards previous highs around 7800.
Key support: 7600
Key resistance: 7100
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.