As we saw a price crash down til $8250 range a few days back from a high of $11700 range. We saw a declining channel in BTC; however, we also saw an uptrend in Stoch RSI. The RSI was in in oversold zone. The Stoch RSI on daily also has bottomed and curled up. Last time we reached the bottom at Stoch RSI on a daily, we hit $6,000 and that was a big bounce for a reversal. This could trigger a price reversal and we could soon continue an uptrend and try to break psychological Resistance at $10,000. However the volume seems to be low the bounce was see but it was not with a lot of steam(volume). We could try to break $9500 but BTC seems to to be struggling. We might pull back and try again. Let's see how it turns out. The market it still kind of in a bearish trend. I am trying to learn every day and trying to analyse every time BTC or any other coin moves. I hop I can learn to read this charts better as time passes. This is just for my information and knowledge and not a financial advice whatsoever.
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We have broke above the channel and we got the volume we needed to break above $9,500. We shall take a breather and retrace back. A healthy correction is needed for another run higher.
Target 1: $9500-reached
Target 2: $10000 Resistance
Target 3: $12500 Major Resistance
Target 1: $9500-reached
Target 2: $10000 Resistance
Target 3: $12500 Major Resistance