BTC Bitcoin analysis short-middle term
Bitcoin has followed a massive spike this year, even at the area levels between $ 52,000 and $ 55,000, getting huge buying pressure on DIPs at $ 50,000.
Exiting the bullish outer channel and the break of the 200 moving average is not good news for Bitcoin, however we can see signs of a buying pressure in the $ 50,000 area, as has happened before. At the same time a bullish divergence is formed with respect to the RSI.
$ 48,000 has proven to be a major rejection force as a support / resistance level. The plan that we will follow for Bitcoin, despite this large correction is still bullish, targeting $ 60,000.
Exiting the bullish outer channel and the break of the 200 moving average is not good news for Bitcoin, however we can see signs of a buying pressure in the $ 50,000 area, as has happened before. At the same time a bullish divergence is formed with respect to the RSI.
$ 48,000 has proven to be a major rejection force as a support / resistance level. The plan that we will follow for Bitcoin, despite this large correction is still bullish, targeting $ 60,000.
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.