Bitcoin needs to BO back above 10k for daily momentum to remain BULLISH..

in #bitcoin • 7 years ago (edited)

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#Bitcoin (BTC) dropped back below 10k and has bounced off downtrend line S/R. Daily momentum remains BULLISH, however is fading. Needs a BO above 10k, and then 10.5k over the next week for daily momentum to remain BULLISH - with probable up-side PA over the next few weeks. Otherwise next area of Support is between 8700 - 9200. IMHO.

The MACD formed a bullish up-cross w/expanding positive histogram during mid-February, however, over the past few days the histogram has reduced indicating DECREASINGLY BULLISH momentum conditions. The Stochastic formed bullish higher-lows while becoming oversold (>20.0) during mid-February. Recently confirmed a DECREASINGLY BULLISH line cross and needs to head higher shortly, to remain bullish over the next few weeks.

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#crypto #blockchain #money #btc
7 years ago in #bitcoin by
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