Brief Update On Bitcoin

in #cryptocurrency11 months ago

BTC/USD Monthly View

In the end I left both the descending trend lines in place (body-to-body & wick-to-wick), to have an accurate view. We're currently trying to push above the first one and find resistance at the 0.382 ($9440) Fibonacci level. So far we're good; it looks like we try to respect the previous pattern of having at least a candle wick to the the upper trend-line.

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BTC/USD Daily View

On the daily, we're approaching the previous local high again and a strong fight is going on. We could see Bitcoin correcting to the 21 EMA (yellow) again and ride along it to the upside. For now, we have a MACD rejection at the signal line and descending trading volume.

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steem line 2.png

Thanks for reading and safe trading!

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