BTC/USD RSI & Trend Analysis
Hi everyone.
I see a couple of wedges on the 4 hourly chart as well as on the RSI. If BTC breaks above the trend line we're definitely going higher. I've taken profit around 39K and I'm now waiting to see which way we are going to go. If we break below I will re-enter near 27K-25K. This is also a Fibonacci area.
Fundamentals are still in place. Large corporations and funds are still buying large numbers of BTC and the market is still driven by a lack of demand. The moment you consider the total amount of USD or EUR in circulation and compare it as such to BTC...
I see a couple of wedges on the 4 hourly chart as well as on the RSI. If BTC breaks above the trend line we're definitely going higher. I've taken profit around 39K and I'm now waiting to see which way we are going to go. If we break below I will re-enter near 27K-25K. This is also a Fibonacci area.
Fundamentals are still in place. Large corporations and funds are still buying large numbers of BTC and the market is still driven by a lack of demand. The moment you consider the total amount of USD or EUR in circulation and compare it as such to BTC...
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