Bitcoin daily chart analysis

bitcoin daily chart analysis

move is significantly higher than the opposite behavior. During the past few days, there was a slowly and steady rise from the 6,100 and 6,200 support levels in bitcoin price. Hence, we are expecting a move to either direction over the next day or two. BTC/USD is trading below a monster bearish trend line with resistance at 6,620 on the daily chart. At the moment, the price is trading below the trend line, the 50-day SMA, and the 6,620 level. BitFinex open short positions: Not a major change since our previous update.

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As of now, the RSI seems strong around the bullish territories. Weve also talked about the mini Golden Cross, whereas the 50 days MA had crossed over the 100 days MA (on the daily chart). A mini Golden Cross: Yet, its not a Golden Cross; However, the daily 50 days moving average (purple line) is just about to cross over above the 100 days moving average (white line). So you will find the below mentioned patterns in one-minute charts as well as in daily charts. No major news out there: Bitcoin is still consolidating around the 3850 mark. Afterward, resistance is located at 4050, while breaking up is likely to send BTC to retest the 4200 resistance. We had a breakout of the triangle! Below is the 3670 the cross between the daily charts 50 and 100 days moving average lines. The daily trading volume: The volume is around the monthly average, not significant, however a bullish sign could be coming by looking on the candles, as we can identify higher green candles than red ones.

bitcoin daily chart analysis