It's always important to look the US Dollar when determining the outlook for Bitcoin. Remember, when the US Dollar rises, Bitcoin does the opposite, which is why the price of BTC is experience in the red.
However, looking at the US Dollar Chart, the DXY is oversold on the Relative Strength Index. This is a bullish momentum for Bitcoin, as the US Dollar can experience a pullback for the next four days.
We need to wait confirmation on the MACD on the four hour timeframe.
THIS IS NOT FINANCIAL ADVICE. ALWAYS DO YOUR OWN RESEARCH.
However, looking at the US Dollar Chart, the DXY is oversold on the Relative Strength Index. This is a bullish momentum for Bitcoin, as the US Dollar can experience a pullback for the next four days.
We need to wait confirmation on the MACD on the four hour timeframe.
THIS IS NOT FINANCIAL ADVICE. ALWAYS DO YOUR OWN RESEARCH.