CRYPTO NEWS TODAY - Bitcoin is Around $44k - Market is in Green Zone
CRYPTO NEWS TODAY - Bitcoin is Around $44k - Market is in Green Zone
00:02 Intro
01:15 Crypto News
02:01 Bitcoin News
03:12 Ethereum News
04:02 Bitcoin Technical Analysys
05:01 Bitcoin Price Prediction
06:07 Outro
Bitcoin is trying to turn the recently broken short-term resistance line into support. If successful, BTC will continue to rise towards $50,000.
On February 8, bitcoin (BTC) formed a local high at $45492, but declined slightly the next day, although it was able to form a small bullish candle on the chart and closed trading higher.
That high was set very close to the Fibo 0.618 retracement level at $44,880.
Despite the rebound, the technical indicators are giving bullish signals. This is especially evident in the RSI index, which rose above the 50 mark (green circle).
The RSI is a momentum indicator, and values above 50 are considered bullish. The last time the index was above 50 in early October (green circle), and after that BTC began to rise, which eventually led it to new all-time highs.
On the 6-hour timeframe, bitcoin made a bullish breakout from the short-term rising parallel channel. This is an indication that the rise in price is impulsive and could continue.
In addition, the market has already tested this line twice as support. Thus, the former resistance is now expected to play the role of support.
#bitcoin #crypto #cryptocurrency
00:02 Intro
01:15 Crypto News
02:01 Bitcoin News
03:12 Ethereum News
04:02 Bitcoin Technical Analysys
05:01 Bitcoin Price Prediction
06:07 Outro
Bitcoin is trying to turn the recently broken short-term resistance line into support. If successful, BTC will continue to rise towards $50,000.
On February 8, bitcoin (BTC) formed a local high at $45492, but declined slightly the next day, although it was able to form a small bullish candle on the chart and closed trading higher.
That high was set very close to the Fibo 0.618 retracement level at $44,880.
Despite the rebound, the technical indicators are giving bullish signals. This is especially evident in the RSI index, which rose above the 50 mark (green circle).
The RSI is a momentum indicator, and values above 50 are considered bullish. The last time the index was above 50 in early October (green circle), and after that BTC began to rise, which eventually led it to new all-time highs.
On the 6-hour timeframe, bitcoin made a bullish breakout from the short-term rising parallel channel. This is an indication that the rise in price is impulsive and could continue.
In addition, the market has already tested this line twice as support. Thus, the former resistance is now expected to play the role of support.
#bitcoin #crypto #cryptocurrency
