Bitcoin has been trading inside a 1W Channel Down (RSI = 39.239, MACD = -68.900, Highs/Lows = -868.2807) since the late June 13,900 peak. This pattern has provided clear sell (on Lower Highs) and buy (on Lower Lows) trading opportunities.
At the moment the price is making a rebound on the 6,500 Support with an RSI Bullish Divergence on the 1D chart. Technically this is a strong signal that we may have hit the bottom of the current sequence. Based on the previous bullish sequences towards a Lower High, we are expecting a maximum +35% rise from here. Thus we've set a Target Zone within the 7,890 1D Resistance and the 8,700 maximum extension.
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At the moment the price is making a rebound on the 6,500 Support with an RSI Bullish Divergence on the 1D chart. Technically this is a strong signal that we may have hit the bottom of the current sequence. Based on the previous bullish sequences towards a Lower High, we are expecting a maximum +35% rise from here. Thus we've set a Target Zone within the 7,890 1D Resistance and the 8,700 maximum extension.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.