BTCUSD.. Next stop $11500?
BTCUSD sailed through the $9200 resistance level. It currently seems to be in an ascending channel. The lower trendline of the channel should act as good support. And below that we have green line of resistance-turned-support at $8900 level. The next major resistance is the red area where we have previous price resistance and as well as 38.2% Fib level. I also see a regular bearish divergence on the RSI (shown with orange dashed line). If the ascending channel is not broken, we will be approaching the red area of resistance latest in the third week of May but it looks like it'll be much sooner than that, provided there is no FUD.
Constructive criticism will be welcomed.
Constructive criticism will be welcomed.
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