Bitcoin Technical Analysis: Bulls Defending Support
Bitcoin dropped over $1,100 yesterday in under 8 hours. Price wicked below the $8,150 support, but bulls quickly stepped in to play defense. It’s now trading around $8,400 on Coinbase.
The daily RSI has developed an ascending support line that’s been respected since December of last year. If this support holds, it may signal the bulls have enough strength to test $9,000 again.
In today’s video I discuss market psychology. We’ll try to make sense of the beautiful madness that is bitcoin, give you key areas to watch and so much more. I hope you find it helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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