The bullish trend has started
After weeks of indecision in the cryptocurrency market, Crypto King is currently in a very critical time, showing absolute potential to rise in the near future. Multiple indicators confirm upside potential, and it is the bulls who will decide how high BTC will go.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The price line on BTC price chart is currently showing 22609, which would be inside a static resistance level shown as a yellow zone. The other yellow zone below the price line reflects a static support zone al almost 20500, this support has recently been formed and not yet retested. RSI is showing negative divergence and MACD is showing bearish wave going on. Traders could expect a bearish leg, moving towards the support zone; after this correction phase the bullish trend could continue and pump the price to 24000 and 25500 after that.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.