Bitcoin [BTC/USD] Technical Analysis: Short-term recovery threatens bear’s position


Bitcoin [BTC] has recently bounced back, tracing a recovery from the bearish zone and providing a positive sentiment to the investors. However, even as the coin has orchestrated its temporary escape from the clutches of the bear, the price still has a long way to go before it reaches further bullish momentum.

1-hour:

An uptrend is visible from the $6,220 – $6,325 range, with an accompanying uptrend from $6,380 – $6,530. This is counteracted by the downtrend from $6,530 – $6,355, which is testing supports at $6,320 and $6,220. Resistance levels are set $6,390 and $6,530.

The Awesome Oscillator is bullish and moving upwards as seen by the green bars on the indicator.

The Klinger Volume Oscillator is also demonstrating a bullish crossover after the bearish move, suggesting a possible recovery.

The RSI recently recovered from the oversold zone, demonstrating that the coin has regained its buyers.

1-day:

The uptrend is providing a support from $6,185 – $6,270 – $6,335, with a downtrend…



Read Full Story : AMBCrypto

2018-11-10 13:00:10

You Might Be Interested In

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *