16 Jan 2020 - Daily Technical analysis for BTC/USD
BTCUSDT spent yesterday wandering around the area below 8900
Could not break 9000 or 8550
Some points for today:
- Main trend of BTCUSDT in 4H is still increasing
- Trend structure consisting of ascending peaks and bottoms.
- The bullish channel still maintained
- Past week: price increase from 7670 to 8900 and BTCUSDT has not had a significant recovery, correction or pullback.
- At this point, BTCUSDT easy to fall into an overbought state, possibility of further price adjustment.
- An overbought sign with RSI 14 (4H)
WAIT to see if BTC can break 9000, this is not time to sell, main stream is still up. Round number 9000 and some profit taking may dominate a bit.
WAIT to see if BTC have a correction to 8500, 8100, 7700 and buy when having rising setup.
BTCUSDT spent yesterday wandering around the area below 8900
Could not break 9000 or 8550
Some points for today:
- Main trend of BTCUSDT in 4H is still increasing
- Trend structure consisting of ascending peaks and bottoms.
- The bullish channel still maintained
- Past week: price increase from 7670 to 8900 and BTCUSDT has not had a significant recovery, correction or pullback.
- At this point, BTCUSDT easy to fall into an overbought state, possibility of further price adjustment.
- An overbought sign with RSI 14 (4H)
WAIT to see if BTC can break 9000, this is not time to sell, main stream is still up. Round number 9000 and some profit taking may dominate a bit.
WAIT to see if BTC have a correction to 8500, 8100, 7700 and buy when having rising setup.