BITCOIN: Regaining 20k and the 1D MA200 level

Bitcoin is extending the gains since the start of the new year and entred a highly important Resistance Band that was a major Support Band from June until October. Technically the market is extremely overbought (RSI = 82.276, MACD = 397.000, ADX = 57.655) and as it approaches a double psychological zone consisting by the 1D MA200 and the 20,000 level, it expected to pull back to the 1D MA50.

The 1D RSI's Higher Lows line can be used together with the candles' Higher Lows for new buy entries. When it manages to regain the 20k level, the price is expected to face strong resistance on Bands 2 & 3, which as seen formed bounce levels from mid July to early November.


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