9600 to 8700 ?
🔸BTC Update
Bitcoin finally managed to fence above its resistance zone on the daily horizon. BTC is currently trading around 9350.
The daily and 4h technical situation is now positive again but the indicators are getting closer and closer to their overbought zone. On a shorter horizon, in 1 hour, the technical situation is negative.
🔹Trend follower?
Still positive on the daily timeframes, 4h and 1h.
🔹What can we do about it?
The technical situation indicates a possible drop, but I won't be surprised to see Bitcoin reaching 9600 before that happens. The 9600 zone will therefore be a short opportunity to aim for a return to the 8600 - 8700 zone.
Bitcoin finally managed to fence above its resistance zone on the daily horizon. BTC is currently trading around 9350.
The daily and 4h technical situation is now positive again but the indicators are getting closer and closer to their overbought zone. On a shorter horizon, in 1 hour, the technical situation is negative.
🔹Trend follower?
Still positive on the daily timeframes, 4h and 1h.
🔹What can we do about it?
The technical situation indicates a possible drop, but I won't be surprised to see Bitcoin reaching 9600 before that happens. The 9600 zone will therefore be a short opportunity to aim for a return to the 8600 - 8700 zone.
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