BTCUSD Hourly Chart Outlook.
This analysis is for educational purposes only. It is NOT an INVESTMENT advice.
All shown on the chart. At the next higher time frame daily, price is testing the long term mean of 200 day moving average. This is obvious in the hourly as a secondary reaction, in the form of a pullback, within the up trending channel. As long as the support line of the channel is respected, bullish upside reversals may suggest a retest of the overbought line. As the saying goes "Make the trend your friend as long as it is in effect".
Analysis continues...
All shown on the chart. At the next higher time frame daily, price is testing the long term mean of 200 day moving average. This is obvious in the hourly as a secondary reaction, in the form of a pullback, within the up trending channel. As long as the support line of the channel is respected, bullish upside reversals may suggest a retest of the overbought line. As the saying goes "Make the trend your friend as long as it is in effect".
Analysis continues...
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