BTCUSDT, Daily Technical Analysis (Wed, 12 Feb 2020)

BTCUSDT, Daily Technical Analysis (Wed, 12 Feb 2020)

BTCUSDT rebounded into the buying zone around 9550 - 9750 and strongly increased again.
This is the buying area
Possibility of creating a bottom $9750 - $9850

The uptrend has shown signs of continuing
BTCUSDT just broke the peak of 10,200 and went up to above 10,300.
BTCUSDT continues to move in the bullish channel

BTCUSDT is touching the top of the channel
May encounter resistance from $10.400 - $10.500 and pull back to $9.900

Yesterday's decline is the Fakey - Inside Bar False Breakout pattern.

The volume shows abnormal signs
When the candle gets bigger, the volume gets bigger
But the candle gets smaller after the volume gets bigger, though the body is very small.
This could be a sign of a stopping volume, or a volume blocking trend.

(High volume sold at $10.300)

CONSIDER:
- Uptrend has continued but should still be careful to reverse due to signs from the volume.
- Can buy smaller volumes than usual at pull back (EMA 26, EMA 50) $9800 - $9900
- Some can wait to buy dip at $9100 - $9200