Bitcoin futures have bounced nicely at support after filling the gap previously mentioned and has begun to move higher again. We moved up sharply to the trendline and backed-off below the long-term 23.6%FIB level and remains stuck in the channel. After yesterday's heavy selling and BTC remaining supported, we could expect a move higher to the top of the channel and retest the highs.
RSI is getting near the trendline resistance while MACD remains flat with a slight bull bias therefore at the moment, caution should be exhibited before entering a trade. Look for support on any move lower to leg into a long as long as we remain firmly within the channel.
Thanks guys!
RSI is getting near the trendline resistance while MACD remains flat with a slight bull bias therefore at the moment, caution should be exhibited before entering a trade. Look for support on any move lower to leg into a long as long as we remain firmly within the channel.
Thanks guys!