Rajarshi Mitra
Independent Analyst
BTC/USD Daily Chart
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- BTC/USD breached the $6,000 level for the first time since 14th November 2018.
- The price went up from $5,940 to $6,050.
- The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
- On the upside, further resistance levels lie between $6,250 and $6,500.
- The relative strength index (RSI) curve has crept into the overbought zone.
BTC/USD 4-Hour Chart
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- The 4-hour market has breached past the upper curve of the 20-day Bollinger band.
- The widening of the mouth of the band shows increased volatility.
- The 4-hour market is trending above SMA 200, SMA 50, and SMA 20 as well.
- The signal line is diverging away from the MACD line indicating increasing bullish momentum.
BTC/USD Hourly Chart
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- The Elliot Wave Oscillator has had 17 straight bullish sessions.
- 22 out of the last 23 sessions in the Elliot wave were bullish.
- The Ichimoku indicator is currently showing bullish sentiment but shows that a bearish correction may be happening soon.
Key Levels
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