Bitcoin is in daily Bull Flag headed to $11.800!
Updated
Last week has Bitcoin broken through a key level of $11.100 with a full candle from an ascending triangle bullish formation and haven’t found a strong resistance yet.
Currently, the Bitcoin charts looks to be forming a bullish flag which has bias to break to the upside and if the downtrend line of this flag get’s broken, I expect a break to $11.800.
Daily key support levels are $11.200 and $10.950 and resistance levels of $11.550 and $11.800, you can see them highlighted in the chart.
Uptrend line support level is located at $10.750.
What are the indicators saying?
200 and 50 EMA’s are showing that this asset is in strong daily uptrend and has a lot of room to fall while still remaining bullish, to be exact, Bitcoin can fall all the way down to $10.000 while still remaining bullish.
RSI is above 60 which usually means bullish action with good volume with the addition of making higher lows and highs.
MACD is on third buying wave, which usually tends to make a trend change, as three MACD waves are the usual number of MACD waves in a row. So MACD is giving a correction signal.
Currently, the Bitcoin charts looks to be forming a bullish flag which has bias to break to the upside and if the downtrend line of this flag get’s broken, I expect a break to $11.800.
Daily key support levels are $11.200 and $10.950 and resistance levels of $11.550 and $11.800, you can see them highlighted in the chart.
Uptrend line support level is located at $10.750.
What are the indicators saying?
200 and 50 EMA’s are showing that this asset is in strong daily uptrend and has a lot of room to fall while still remaining bullish, to be exact, Bitcoin can fall all the way down to $10.000 while still remaining bullish.
RSI is above 60 which usually means bullish action with good volume with the addition of making higher lows and highs.
MACD is on third buying wave, which usually tends to make a trend change, as three MACD waves are the usual number of MACD waves in a row. So MACD is giving a correction signal.
Trade closed: target reached
Target of $11,800 reached
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