BTC/USD - Approaching $52k. Bullish divergence confirmed!
Bitcoin finally broke the diagonal resistance and is now moving higher. The bullish divergence on RSI was the give-away. Bulls could not wait for BTC to fall to $41-42k before buying in heavily.
Our next immediate target is
52K which is also a significant resistance where we got rejected last time. I'd be surprised for us to pass this level without any push-back.
Therefore, watch this price action, the indicators look good for us to re-test 52k. Beyond that we will have to revisit the chart.
On a longer timeframe, we may range in this area between 58k and upper 40k until we get a clean break-out from the current ATH. That will be a clear signal we're going to pump hard.
March has not been a great month for BTC historically, so we have to see how price develop here. For now I remain bullish so long our support above
42K holds.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
Our next immediate target is
52K which is also a significant resistance where we got rejected last time. I'd be surprised for us to pass this level without any push-back.Therefore, watch this price action, the indicators look good for us to re-test 52k. Beyond that we will have to revisit the chart.
On a longer timeframe, we may range in this area between 58k and upper 40k until we get a clean break-out from the current ATH. That will be a clear signal we're going to pump hard.
March has not been a great month for BTC historically, so we have to see how price develop here. For now I remain bullish so long our support above
42K holds. Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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