Trade setup: Bullish breakout from an Ascending Triangle pattern, above $38K resistance, signaled resumption of uptrend. Price got overbought (RSI > 80!) near $45K resistance area and we’re seeing some profit taking by traders. Now we wait for price to either
1) break above $45K resistance to signal continuation of Uptrend, with upside to $50K, or
2) pull back near $38K support for a swing trade entry with upside to $45K near-term and $50K medium-term.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance: Nearest Support Zone is $38K (previous resistance), then $35K. The nearest Resistance Zone is
42K, then $45K.
1) break above $45K resistance to signal continuation of Uptrend, with upside to $50K, or
2) pull back near $38K support for a swing trade entry with upside to $45K near-term and $50K medium-term.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance: Nearest Support Zone is $38K (previous resistance), then $35K. The nearest Resistance Zone is
42K, then $45K.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.