Looks like BTC is clear to MOVE UP
The chart is showing a lot of positive strength today.
-On a 4 hours chart we can see the price has retested the support multiple time and has accepted it well.
-100 MA is going to cross 200MA to upside which is also a positive sign. Small MA crossing a bigger MA and going up is always a good sign of momentum.
- MACD showing decreasing bear power and should create a divert, meaning the MACD line (Blue) should cross over the Signal line (orange).
- 20 MA is sitting at the bottom of current 4 hour candle -> That is a support.
- 50 Ma is lying between $63,000 & $61,000 creating another zone for support in case the price goes south for any reason.
Over sentiment is positive. The price should test and try to break the resistance at $66,000. And when it happens, another barrier at $68,000 is waiting. If the market receives some good momentum there are chances, the price directly goes to $69,000 before another cooloff.
Just a precaution which we should always have in our minds before taking any decision, watch out for any news with a negative sentiment, which can cause to retest the latest support.
-On a 4 hours chart we can see the price has retested the support multiple time and has accepted it well.
-100 MA is going to cross 200MA to upside which is also a positive sign. Small MA crossing a bigger MA and going up is always a good sign of momentum.
- MACD showing decreasing bear power and should create a divert, meaning the MACD line (Blue) should cross over the Signal line (orange).
- 20 MA is sitting at the bottom of current 4 hour candle -> That is a support.
- 50 Ma is lying between $63,000 & $61,000 creating another zone for support in case the price goes south for any reason.
Over sentiment is positive. The price should test and try to break the resistance at $66,000. And when it happens, another barrier at $68,000 is waiting. If the market receives some good momentum there are chances, the price directly goes to $69,000 before another cooloff.
Just a precaution which we should always have in our minds before taking any decision, watch out for any news with a negative sentiment, which can cause to retest the latest support.
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