Bitcoin has broken strong resistance, potential rally!
Bitcoin has broken our descending resistance-turned-support line triggering a bullish exit. A strong rally could occur above 1st major support at 9857 (breakout level, horizontal overlap support, fibonacci retracement) all the way up to major resistance at 11772 (Fibonacci retracement, horizontal swing high resistance).
RSI (34) has made a similar bullish exit from its descending resistance-turned-support line signalling that there could be a change in momentum from bearish to bullish.
RSI (34) has made a similar bullish exit from its descending resistance-turned-support line signalling that there could be a change in momentum from bearish to bullish.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results