Bitcoin Bullish - June 28, 2018
In continuation to Bitcoin Market Overview - June 23, 2018 (https://steemit.com/bitcoin/@scorpionking/bitcoin-market-overview-june-23-2018), As I said previously that the bitcoin has started to become bullish and $ 5800 would act as a strong support and that is exactly what happened.
Now if we look at the chart today, we could see several bullish setups popping up as indicated via the following chart
- RSI is showing divergence. Also RSI has jumped above 30
- MACD is showing tripple divergence, a strong bullish signal.
- A contracting wedge is forming which is a bullish setup
- ADL line is increasing and reaching new peaks despite falling price indicating the bottom or short term reversal could be near.
- $5800 is a very strong support and a pinbar has been formed on this support zone.
So from technical perspective, Bitcoin has turned bullish and the next target could be $10000. but below $ 5700 the bitcoin is bearish.
Disclaimer:
All ideas, opinions, and/or forecasts, expressed or implied herein, information, charts or examples contained, are for informational and educational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
Image source:
https://www.tradingview.com/x/If08JY0Z/
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