BTC 1D - BITCOIN IN POSITION TO MOVES HIGHER
# Red-dotted trend line was drawn from June 2019, touched a head of Head & Shoulder pattern on February 2020, pre-halving high on May 2020, most recent June 2020 selling, until the current price position.
# Horizontal support line of 8820 barely tested on 27 June 2020. Consolidation period, low volatility trading continued for more than 2 weeks. As price has managed to stay above this level for a period of time and continues surging upward, we can assume a bullish position for days to come.
# However a steep move upward is expected. 9700-9900 could provide some resistance with 10200 as another important resistance.
# Stochastic printed a bullish position reading, with MACD at neutral level with a potential divergence soon.
# EMA 200 acted as a clear divider between bullish / bearish sentiments, with a drop below this level could signal another bearish opportunity. Our previous analysis mentioned a possible free fall drop if price failed to hold SMMA 200.
DYOR Always.
# Horizontal support line of 8820 barely tested on 27 June 2020. Consolidation period, low volatility trading continued for more than 2 weeks. As price has managed to stay above this level for a period of time and continues surging upward, we can assume a bullish position for days to come.
# However a steep move upward is expected. 9700-9900 could provide some resistance with 10200 as another important resistance.
# Stochastic printed a bullish position reading, with MACD at neutral level with a potential divergence soon.
# EMA 200 acted as a clear divider between bullish / bearish sentiments, with a drop below this level could signal another bearish opportunity. Our previous analysis mentioned a possible free fall drop if price failed to hold SMMA 200.
DYOR Always.
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