CRYPTO NEWS - Market is Slowly Growing - ALL in GREEN - Bitcoin Price is $23.5K
CRYPTO NEWS - Market is Slowly Growing - ALL in GREEN - Bitcoin Price is $23.5K
00:01 Intro
01:12 Crypto News Today
02:08 Bitcoin News Today
03:15 Ethereum News
04:27 Bitcoin Technical Analysis
05:12 Bitcoin Price Prediction
06:57 Outro
Bitcoin (BTC) has broken out from a long-term descending resistance line and a short-term ascending parallel channel. It’s possible that it has begun a bullish trend reversal.
Bitcoin had been trading underneath a descending resistance line since April 5. So far, the downward move has led to a long-term low of $17,622 on June 18.
BTC has been moving upwards since and broke out above the resistance line on July 18. A breakout from such a long-term resistance line often leads to a significant upward move. In this case, the 0.382 Fib retracement resistance level when measuring the entire height of the resistance line is found at $29,400.
The breakout from the line also coincided with an RSI breakout above 50, which is also considered a sign of a bullish trend. As long as the RSI support line (green) is in place, the bullish structure is considered intact.
00:01 Intro
01:12 Crypto News Today
02:08 Bitcoin News Today
03:15 Ethereum News
04:27 Bitcoin Technical Analysis
05:12 Bitcoin Price Prediction
06:57 Outro
Bitcoin (BTC) has broken out from a long-term descending resistance line and a short-term ascending parallel channel. It’s possible that it has begun a bullish trend reversal.
Bitcoin had been trading underneath a descending resistance line since April 5. So far, the downward move has led to a long-term low of $17,622 on June 18.
BTC has been moving upwards since and broke out above the resistance line on July 18. A breakout from such a long-term resistance line often leads to a significant upward move. In this case, the 0.382 Fib retracement resistance level when measuring the entire height of the resistance line is found at $29,400.
The breakout from the line also coincided with an RSI breakout above 50, which is also considered a sign of a bullish trend. As long as the RSI support line (green) is in place, the bullish structure is considered intact.
