Bitcoin made a quick bounce from 6K dollars. We are now close to face 1st resistance. Overall Bitcoin seems bullish. Why? We have an oversold RSI in 1 day chart, MACD is also showing a small curve trying to converge/cross up. But, remember that we are still in a downtrend and Bitcoin might also fall more besides the bullish movement right now. Observation : Red lines are strong resistances areas that Bitcoin might suffer high turbulence.
About the fundamentals :
Bunch of DID was spread in past weeks, but good news just are starting to spread as SEC show bullish regulations and Hedge funds start to go bullish in Bitcoin.
Conclusion :
Bitcoin is neutral right now, but I hope this analyse help you to track and understand what is happening
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Bitcoin made a quick bounce from 6K dollars. We are now close to face 1st resistance. Overall in TA Bitcoin seems bullish . Why? We have an oversold RSI in 1 day chart, MACD is also showing a small curve trying to converge/cross up. But, remember that we are still in a downtrend and Bitcoin might also fall more besides the bullish movement right now. Observation : Red lines are strong resistances areas that Bitcoin 0.22%might suffer high turbulence.
About the fundamentals :
Bunch of FUD was spread in past weeks, but good news just are starting to spread as SEC show bullish regulations and Hedge funds started to go bullish in Bitcoin .
Conclusion :
Bitcoin is neutral right now considering TA+FA, but I hope this analyse help you to track and understand what is happening.
Trade safe and have a nice day!