The session advances towards the weekend while Bitcoin reports a slight increase of +1.34, gently touching the $3950. This is a good sign, however you have to take into account the volume, if BTC breaks with a low volume level, it would be best to place our entry higher type $3980.
Although at this moment BTC bullish reports with high probabilities of going for the target of $ 4200 which in turn are the main resistance and a possible point of profit taking.
- Bitcoin increases more than 1.34%
- Optimistic market under the control of the bulls
- At a general level BTC is still in a bearish zone but improving
Analyzing the BTC/USD chart in 4 hours, we can see that BTC shows optimism, the last 2 impulses have been more controlled which allows that there is not a pullback as strong as what we saw in previous years.
Although BTC has reported an improvement during this month, it must be taken into account that it is still in a bearish area comparing 2019 vs 2018.
The RSI remains below the over-purchase area of 70% which is healthy for BTC to move towards resistance at $ 4200, the volume should be better although the current one is not bad at all.
- Moving Averages EMA 9/26
- RSI (relative strength index) 64%
- Support $ 3800
- $ 4200 resistance