BTC RALLIES HARD
Bitcoin rallied hard off of the lows, breaking above the 200 MA and recapturing the range lows today. Bulls wants to see a close inside the blue range to confirm the reversal, but things are looking very good.
There are quite a few reasons for Bitcoin to have bounced, both fundamentally and technically. A bullish divergence with oversold RSI is as consistent a bottom signal as there is, so I continue to use that as my main indicator. If you were paying attention here, you were able to buy the bottom of this correction.
My focus remains on Bitcoin.
There are quite a few reasons for Bitcoin to have bounced, both fundamentally and technically. A bullish divergence with oversold RSI is as consistent a bottom signal as there is, so I continue to use that as my main indicator. If you were paying attention here, you were able to buy the bottom of this correction.
My focus remains on Bitcoin.
scott.melker@texaswestcapital.com
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