BTC/USD Update
I'm looking at BTC on the daily chart. You can see that BTC is respecting the trend line and has had a successful bounce at $7071 now currently sitting at $7715.
BTC is currently in an ascending channel formation and if we can hold this channel and move towards the horizontal resistance at $7800-7836 we will either see a break through which will make BTC bullish or if we get rejected here we can see a fall back to $7400 range.
MACD on the daily has crossed upwards which is a bullish indicator and the RSI is neutral which places BTC in a strong position on the daily.
If we can keep clear of FUD in the coming days/weeks BTC overall looks bullish IMO.
I'm looking at BTC on the daily chart. You can see that BTC is respecting the trend line and has had a successful bounce at $7071 now currently sitting at $7715.
BTC is currently in an ascending channel formation and if we can hold this channel and move towards the horizontal resistance at $7800-7836 we will either see a break through which will make BTC bullish or if we get rejected here we can see a fall back to $7400 range.
MACD on the daily has crossed upwards which is a bullish indicator and the RSI is neutral which places BTC in a strong position on the daily.
If we can keep clear of FUD in the coming days/weeks BTC overall looks bullish IMO.