Bitcoin turned up sharply from $100,000 on Monday and rose above the moving averages, indicating solid buying at lower levels.
The 20-day exponential moving average (EMA) ($105,154) has started to turn up, and the relative strength index (RSI) has jumped into positive territory, signaling that the bulls are back in the game. Sellers are expected to defend the zone between the downtrend line and the all-time high of $111,980.
If the price turns down from the overhead zone but finds support at the 20-day EMA, it signals that the bulls are buying on dips. The bulls will then again try to clear the overhead zone.
On the contrary, a slide below the moving averages suggests the BTC/USDT pair may consolidate between $111,980 and $98,200 for a while longer.
#Share Your Thoughts on Popular Assets in June#Check In to Win a 20g Gold Bar#Claim1,200 USDT in the Monthly Creation Challenge
All Comments0LatestHot