Bitcoin (BTC) Mid-Day Update: Price Sitting on Top Trend Line as Support
Bitcoin (BTC) daily chart shows price to be sitting on the upper white trend line as support. This morning's update has stated that a temporary piercing of the support line would generate bull wicks and these could washout the weak hands. The daily MACD has the 12 day curling downwards and a clean cross could signal more down; but that has not yet occurred.
The Bollinger band's +/- 2 Std Dev bands show price to be sitting on the bottom band which coincides well with upper white trend line. A good support should be experienced. Let's see if the bands start diverging or not for the rest of the day.
I have updated the white arrow pathway to take into consideration the Bull Wick potentials.
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