These graphs show the key resistance and support lines that Bitcoin has formed over the past few days, you should use these in order to leverage your trades. You can expect that we will take a short-term dip to the support line, where we may consolidate and make another move upwards which will break through the horizontal resistance. This would be a confirmation to go to our second price. However, if we break below the support you could expect to see another decrease incoming.
As always trade the lines accordingly.
- MACD - Looks more on the bullish side, we have a created a support level on the MACD, this is a good sign and we have not seen this in BTC for a while.
- RSI - Is consolidating or fluctuating between the blue rectangular box, this shows that trading is very tight and there is a period of steady buying and selling. Usually an indication of an upcoming breakout or breakdown.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.