I AM NOT FEELING GOOD ABOUT THIS!
On the daily timeframe, BTC is showing signs of rejection. If this rejection plays out, be prepared to see BTC drop to 62k, where the 100 EMA provides support. The RSI indicates weak momentum and will likely reach the oversold zone.
The only way we could see a positive move is if BTC breaks out and closes above 68k on the daily chart, which could then target the all-time high range. Until then, a bearish scenario is likely.
Please make sure to do your own research and analysis before making any decisions.
Trade safely.
The only way we could see a positive move is if BTC breaks out and closes above 68k on the daily chart, which could then target the all-time high range. Until then, a bearish scenario is likely.
Please make sure to do your own research and analysis before making any decisions.
Trade safely.
Trade active
#BTC Update:
BTC is right at resistance, and as mentioned earlier, it needs a daily close above this level to continue the bullish rally and set a new target of 73.7k (All-Time High).
Only 8 and a half hours are left for the daily candle to close, which will determine the next move. I suggest staying cautious with your trades and making wise decisions.
While BTC may be showing bullish signs, don't ignore the overbought range in the RSI and the Fear and Greed Index, which has been in the "greed" zone for the past two days.
Trade safely.
#cryptocurrency #BTC
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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.