A bullish scenario for Bitcoin
With BTC wicking into and staying close to 10k, I figured I would make the bullish scenario for this upswing.
- Have been trading in the purple channel for the past weeks and it worked. At least for now, it seems BTC has broken above it and seemingly found support.
- 10k is a strong psychological level, we could see unexpected funds flood BTC as...ahem...people who don't trade that much will FOMO into it. It kind of happened last year at the 10k and 15k ranges as well.
- No apparent strong resistance until the 11.6k range
- RSI, although aproaching the overbought region again, has formed higher lows and higher highs for the past days
- No apparent large Fib Retracement level to hold act as resistance for the short-medium term
- Have been trading in the purple channel for the past weeks and it worked. At least for now, it seems BTC has broken above it and seemingly found support.
- 10k is a strong psychological level, we could see unexpected funds flood BTC as...ahem...people who don't trade that much will FOMO into it. It kind of happened last year at the 10k and 15k ranges as well.
- No apparent strong resistance until the 11.6k range
- RSI, although aproaching the overbought region again, has formed higher lows and higher highs for the past days
- No apparent large Fib Retracement level to hold act as resistance for the short-medium term
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