Bitcoin Technical Analysis: Bulls Defending Support

Bitcoin dropped over $1,100 yesterday in under 8 hours. Price wicked below the $8,150 support, but bulls quickly stepped in to play defense. It’s now trading around $8,400 on Coinbase.

The daily RSI has developed an ascending support line that’s been respected since December of last year. If this support holds, it may signal the bulls have enough strength to test $9,000 again.

In today’s video I discuss market psychology. We’ll try to make sense of the beautiful madness that is bitcoin, give you key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see

About the author: Workin 2005
Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom

Add your Scripsio!

Join Scripsio and write what you write!
Be a part of the Scripsio community. Share what you have written.

Comments

No comments yet