BITCOIN Very strong support🥶
The daily time frame reveals just how strong the horizontal support line is at $90,400 (orange line). As well as having the bottom of the ascending triangle at this level, the 50-day SMA (blue line) is also lending its support.
If you also factor in that the daily stochastic RSI indicators are coming to a bottom, and could be heading back to the upside soon, you get a sense for a likely bounce and the beginning of the next up-leg for the bulls.
The only factor in the chart above that might disagree is the RSI. The indicator line has fallen through the uptrend line, although there is still time for this line to turn back around before the daily close. $BTC
BTC
68,045.99
+0.14%