Bitcoin back to $6000 range. H&S pattern in the making.
Updated
Head and Schoulders pattern in the making. That bitcoin back in the $ 6,000 range.
RSI and MACD are to high on different time ranges to grow.
When you sold @ 12000 its possible to double your bitcoin when you buy BACK around $6000.
RSI and MACD are to high on different time ranges to grow.
When you sold @ 12000 its possible to double your bitcoin when you buy BACK around $6000.
Note
If we zoom out the chart for 2017 to 2019 we will see this.
Around $ 6000 is a perfect and healthy place to start a new bullrun with a low RSI and MACD.
Note
1H chart On the 1-hour chart, the RSI is rising while the bitcoin price collapses. That means that the bottom is still not in sight.
All this is clearly visible on the 1W candle chart.
We see that the RSI is heading in the right direction. Bitcoin was already in the overbuy in April / May.
The RSI still needs to fall a whole lot for a healthy bull run. An RSI between 60 and 30 would be perfect
That we end up between $ 7500 and $ 6000 will not be difficult for the bitcoin. To trade the upward movement, extra bitcoin can be earned here.
Disclaimer
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.