BTC/USD Charts Potential Bullish Reference Candle

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of BTCUSD. Friday’s candle may be a bullish reference candle (blue arrow). I.e. a candle with a higher low on either side of it. If today’s candle closes above yesterday’s high (black horizontal) it will give weight to the bullish reference candle scenario. We note that the RSI has broken through a down sloping green trendline which indicative that the underlying bullish momentum may be gaining strength.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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