BTC Long 1Hr Analysis
The price will likely go around 28620 to test the nearest resistance because of the following reasons:
RSI
Currently, the price is at 37 on RSI so will definitely go to 70 and above thus the price will go upside.
Parallel Ascending Channel
Price is moving in a channel and currently at the support of this channel. we can see a bounce back from this level to the next resistance which is around 28620.
Price at support
Price is on a major support level between 2800 and 27860 and respecting this resistance.
Bullish Engulfing Candle
A bullish engulfing candle is a good sign for the entry near the support so all these indicators and signs are showing a good entry and the exit price is around 28620 which gives the 800 points in BTC.
RSI
Currently, the price is at 37 on RSI so will definitely go to 70 and above thus the price will go upside.
Parallel Ascending Channel
Price is moving in a channel and currently at the support of this channel. we can see a bounce back from this level to the next resistance which is around 28620.
Price at support
Price is on a major support level between 2800 and 27860 and respecting this resistance.
Bullish Engulfing Candle
A bullish engulfing candle is a good sign for the entry near the support so all these indicators and signs are showing a good entry and the exit price is around 28620 which gives the 800 points in BTC.
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