BTCUSD - it's go time
BTCUSD has managed to hammer through a major resistance that's been hard to break on multiple occasions in 2018 and 2019.
Now the question is, can we claim this level as support. The Stoch RSI is looking overbought so I am thinking we see a small retrace towards (perhaps wicking off?) 11.8 before continuing up to claim that level and test 14k. A 6% retrace makes sense before heading back up.
Bollinger bands are looking good, way above the moving average for now, this has been a reliable signal for trend changes.
All things considered I do expect a run to 14k now, but that's DEADLY resistance with a lot of bear action up there.
Now the question is, can we claim this level as support. The Stoch RSI is looking overbought so I am thinking we see a small retrace towards (perhaps wicking off?) 11.8 before continuing up to claim that level and test 14k. A 6% retrace makes sense before heading back up.
Bollinger bands are looking good, way above the moving average for now, this has been a reliable signal for trend changes.
All things considered I do expect a run to 14k now, but that's DEADLY resistance with a lot of bear action up there.
Note
Support wasn't tested much. I do wonder if we come back down there.For now, marvel at BTC doing what it does best
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.