BTC is showing weakness in momentum with a weak bearish RSI divergence formed, but we are not yet in the oversold territory on the RSI. Which has me to believe that we still have room for more upside. Although I rather BTC have a healthy correction to 0.782 of our white fib retracement @ 9000 before moving up. This area also lines up with our 200 SMA (red) on the Daily. If BTC does decide to move sideways, we will be coming up to test our blue dotted trendline support where it will meet with our 200 SMA soon.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.