DeBaas

Bullish on Bitcoin

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BITSTAMP:BTCUSD   Bitcoin
Today is a crucial day, in my opinion BTC should bounce after today. It is currently around a good support level which has been providing resistance and support in the past (see red line).

Trendline from top to where we are now has 3 touch points, at the moment it's still trading against that bearish trendline. It has broken that trendline a few days during this whole bearish market.

The upward trendline from the lower lows has 3 touchpoints as well. Meeting up with the trendline from the lower highs makes this a crucial point for BTC.

The RSI levels are reaching an oversold level and Sotch RSI is almost ready for a cross.

To me the combination of both RSI, Stoch RSI and the support levels we see around this pricepoint make me think BTC will move up in the next few days.


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