#BTC- At a very crucial level, RSI confirming a recovery
#BTC #rank-1
We are very well aware that BTC crashed pretty hardly after the news that TESLA will not accept BTC as a payment. I wan't to make one thing very clear that this news dosen't decide the future of BTC. Market will recover soon. We are still in the Bull market. So there is no need for panicking.
So, let's head toward the technical analysis.
Right now BTC is holding at support level of $42k, which earlier was a resistance level, so this level is a crucial one.
BTC respected this support level and closed above it. And candle sticks are trying to make bullish Harami pattern(this is a bullish pattern ) which suggest an upward movement in the chart.
We can also see in RSI that BTC successfully bounced from the support level of RSI(29.86), which also indicates a potential move upwards. :-)
Thank you.
We are very well aware that BTC crashed pretty hardly after the news that TESLA will not accept BTC as a payment. I wan't to make one thing very clear that this news dosen't decide the future of BTC. Market will recover soon. We are still in the Bull market. So there is no need for panicking.
So, let's head toward the technical analysis.
Right now BTC is holding at support level of $42k, which earlier was a resistance level, so this level is a crucial one.
BTC respected this support level and closed above it. And candle sticks are trying to make bullish Harami pattern(this is a bullish pattern ) which suggest an upward movement in the chart.
We can also see in RSI that BTC successfully bounced from the support level of RSI(29.86), which also indicates a potential move upwards. :-)
Thank you.