BTCUSD - RSI, MACD and Double bottoms all show positive signs
Hello, all
First of all, please don't panic and sell. If you can read indicators and patterns, you could see that at 33,000 it was a strong support earlier this week. Now we see a clear double bottom formation 4H time frame.
RSI shows a positive sign too, for example at 4H you can clearly see a rise from oversold towards the middle of the trend
MACD is turning green on later time frames which is a good sign too.
I personally will keep buying the dip. If we can protect level 33,000-35,000 then we can expect a rise towards 42,000. If we fail, then 25,000 is imminent level with a very strong support and demand.
First of all, please don't panic and sell. If you can read indicators and patterns, you could see that at 33,000 it was a strong support earlier this week. Now we see a clear double bottom formation 4H time frame.
RSI shows a positive sign too, for example at 4H you can clearly see a rise from oversold towards the middle of the trend
MACD is turning green on later time frames which is a good sign too.
I personally will keep buying the dip. If we can protect level 33,000-35,000 then we can expect a rise towards 42,000. If we fail, then 25,000 is imminent level with a very strong support and demand.
Trade closed: target reached:
Closed trades at 38,500 (+5,000). Double bottom played out well. RSI did not lie either.