Following up on my post of yesterday I added some more levels and indicators to the chart. We currently see that BTC broke the mid-term downwards trendline (blue line) - and closed above it.
In addition to that, RSI is signaling buy since 27th of January and we are in the upper 50 of Bollinger Band -> this was already the case on the 17th of Dec but without breaking the downwards trendline (blue line).
So there is indication on the chart that we can see BTC rising to the next resistance level (red zone in the chart). And as a second goal towards EMA 200 (Orange line). What we don't want to see is prices below EMA (9) or a drawback into the downwards trend channel.
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🎯 About my posts: They are kept self-explanatory in order to avoid overcomplicating and confusion. Mostly price signals and trend analysis combined with chart patterns.
Disclaimer: This is not an investment advice
In addition to that, RSI is signaling buy since 27th of January and we are in the upper 50 of Bollinger Band -> this was already the case on the 17th of Dec but without breaking the downwards trendline (blue line).
So there is indication on the chart that we can see BTC rising to the next resistance level (red zone in the chart). And as a second goal towards EMA 200 (Orange line). What we don't want to see is prices below EMA (9) or a drawback into the downwards trend channel.
________
🚀 Follow for daily posts
🎯 About my posts: They are kept self-explanatory in order to avoid overcomplicating and confusion. Mostly price signals and trend analysis combined with chart patterns.
Disclaimer: This is not an investment advice