BTCUSD is approaching our first resistance at 7227.6 (Horizontal overlap resistance, 100% Fibonacci extension). Should price surpass this level, a strong rally might occur pushing price up to our second resistance at 8280.0 (horizontal overlap resistance, 38.2%, 76.4% Fibonacci retracement, 100% Fibonacci extension).
RSI (34) is also seeing a bullish exit along with a bullish divergence, which is a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI (34) is also seeing a bullish exit along with a bullish divergence, which is a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.