Today’s session advances with the price of Bitcoin reporting a significant recovery of more than 6.41% raising the price above $ 6400 dollars at the time of writing this analysis. BTC tries again to break the resistance in the $ 3,500 and to resist.
We can see a bullish candle which attracts the confidence of investors allowing the purchase volume to rise significantly, while the RSI rises above 35%.
- EMA 9/26 moving averages are in a positive area
- Purchase volume slightly better than yesterday
- BTC could have a rally towards the $ 4000
Analyzing the graph of the BTC / USD pair in a one-day period, we can see how the BTC reports a slight improvement against the USD. The moving averages also report a slight improvement in which we can see the fast moving average of 9 periods with a slight deviation towards the upside.
Keep in mind that BTC is still in a bearish area, we need to be cautious about the investments we are going to make at this point. Here the advisable thing would be to hope that BTC breaks the $ 3500 to analyze a possible long entry with target in the $ 3700.
For those who invest in trading, an interesting long-term opportunity is being presented, since by breaking the $ 3,500 we can even reach $ 4,000 this due to the positive market sentiment experienced during today’s session.
- Mobile averages EMA 9/26
- RSI (Relative strength index) 35%
- Support $ 3000
- Resistance $ 5000
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.