BTCUSDis still trading in the huge channel where it has just confirmed the lower line of the channel and is now building a range here. Above 9000 USD level BTCUSDhas still some good support where it can build more potential BTCUSDhas touched the 200 and 100 EMA and is testing them which is normally a bullish sign where when bitcoinmanages to go above these levels can confirm bullishly and move higher.
BTCUSD Price Analysis Chart
The paypal announcement to sell bitcointo its over 250 million customers was a big deal for bitcointhis is why there can come a boost in demand as paypal going to increase the promotion and adaptation.
On the bearish side, it is important for bitcointo hold the lower line of the channel and confirm it otherwise there can come a bearish breakdown when BTCUSDfells below that level.
The RSI is sending moderate signs where an oscillation to the higher or lower boundary will confirm the proper trend which is more likely a bullish trend at the moment of the outcome.
BTCUSDwill confirm bullish when it takes out the EMAs and confirms above the falling resistance and BTCUSDwill confirm bearish when it confirms below the lower line of the huge channel.
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at firstname.lastname@example.org