The chart is for BTC USD based on higher time-frame in which the trend can be seen clearly all the downwards movement can be considered as correction in price for the bigger upward momentum. the levels based on the Daily weekly & Monthly charts are marked. which can be helpful to anticipate the moves of BTC, it is the most simplified chart for the purpose to understand the movement, just based on previous price actions. The BTC is completely bullish if seen on higher time frame based on certain points as mentioned below.
1. As we can see in this July 2020 it has broken the bearish trend Line starting from Dec 2017's Peak price.
2. The Price is making Higher High's & Higher Lows on weekly Time frame as marked on the chart & has tested the supports below.
3. The Price is Trading above EMA 50, 100 & 200 on weekly time frame
4. The RSI is at 61 which is considered to be in bull territory.
5. MACD is above 0
and apart from these we have seen new Institutions have started investing in Bitcoins in heavy amount & are discussing about it which also gives us a sign of people & institutions have started to consider BTC as a new point of interest for investing apart from yellow metal.
All these factors may give us indication of BTC Touching its previous Highs and probably breaking those to create a new ATH..!!
Please Like & Share the content if you like it or it helps you in any way.
Thanks & Regards
Anuj.
This is not a financial advice. DYOR.
1. As we can see in this July 2020 it has broken the bearish trend Line starting from Dec 2017's Peak price.
2. The Price is making Higher High's & Higher Lows on weekly Time frame as marked on the chart & has tested the supports below.
3. The Price is Trading above EMA 50, 100 & 200 on weekly time frame
4. The RSI is at 61 which is considered to be in bull territory.
5. MACD is above 0
and apart from these we have seen new Institutions have started investing in Bitcoins in heavy amount & are discussing about it which also gives us a sign of people & institutions have started to consider BTC as a new point of interest for investing apart from yellow metal.
All these factors may give us indication of BTC Touching its previous Highs and probably breaking those to create a new ATH..!!
Please Like & Share the content if you like it or it helps you in any way.
Thanks & Regards
Anuj.
This is not a financial advice. DYOR.