Bitcoin :- Longer Time Frame
1. A zone of support is being formed below 365 day moving average.This is a range within which BTC has been trading for the past week and a half.An area of zone clearly offers a major bullish sign.
2.The downtrend line bear market is now converging closer to price and looks like we could be in for a range breakout coupled with a break from the 20k downtrend line.
3.The RSI for the first time since the previous fall has turned up and broken above the previous downtrend line.A break above has been confirmed and we could see an expansion of the RSI once the prices move up.
1. A zone of support is being formed below 365 day moving average.This is a range within which BTC has been trading for the past week and a half.An area of zone clearly offers a major bullish sign.
2.The downtrend line bear market is now converging closer to price and looks like we could be in for a range breakout coupled with a break from the 20k downtrend line.
3.The RSI for the first time since the previous fall has turned up and broken above the previous downtrend line.A break above has been confirmed and we could see an expansion of the RSI once the prices move up.
