BTC LONG 7000-7200
There has been some decent accumulation over the weekend, a period that generally sees weakness, but this time it held strong.
Both macd and rsi have shown divergences over the last couple of days, and the AD line is sloping up, indicating accumulation in this area. A clear sign of upward bias.
The daily macd is ready to cross up after a serious period of downward action. The Daily RSI just jumped back above 30 and oversold, and this is also a pretty bullish sign. The fact that this is all happening on a major support level is adding strength to the signals.
The price should test the upside of the channel, and might push to the higher resistance at 8000.
For me the AD line sloping up (so the volume on lower wicks is higher than the volume on higher wicks) is the most convincing factor here.
Both macd and rsi have shown divergences over the last couple of days, and the AD line is sloping up, indicating accumulation in this area. A clear sign of upward bias.
The daily macd is ready to cross up after a serious period of downward action. The Daily RSI just jumped back above 30 and oversold, and this is also a pretty bullish sign. The fact that this is all happening on a major support level is adding strength to the signals.
The price should test the upside of the channel, and might push to the higher resistance at 8000.
For me the AD line sloping up (so the volume on lower wicks is higher than the volume on higher wicks) is the most convincing factor here.
Feragatname
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