Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Coin63@ on June 15, 2021, 01:18:53 PM
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Bitcoin (BTC) continued its ongoing increase yesterday, creating another bullish candlestick. It has reached a horizontal and Fib resistance area near $41,325 which could cause a short-term rejection and pullback.The daily chart shows a bullish outlook for BTC. It followed up a bullish engulfing candlestick on June 13 with another smaller bullish candlestick the next day. So far, it has managed to reach a local high of $41,100. When measuring the most recent portion of the decrease, the $41,125 area is the 0.382 Fib retracement level. In addition, it’s a horizontal resistance area, increasing its significance. The next resistance level is found at $44,775. This target is the 0.5 Fib retracement level.
Technical indicators are decisively bullish. The MACD is positive and the RSI has increased above the 50-line. Furthermore, the Stochastic oscillator has already made a bullish cross (green icon). All these signs indicate that an eventual breakout is likely.source (https://cryptonews.net/809637/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)