Bounce Bitcoin, Bounce!
You may have seen my super bearish Bitcoin post yesterday (which I'm still not 100% sure about). But whether that's true or not; there is a nice bit of a bounce happening right now for Bitcoin, so let's see what's happening!
On the chart above we can see that there have been 2 instances where the RSI showed as oversold, and both times we have seen a bounce. The current one is looking pretty strong, with the price going from $8750 all the way back up to $9250 as I type.
The MACD also looks like it could be turning bullish here too, so we could be seeing the start of a rally in the short term.
The nearest support is now at $8850, with today's low of $8360 offering another level, and also another one at $7950 if it decides to fall again.
If it can remain bullish, the $9250 level is followed by resistance at $9500, then the key $10,000 level.
We'll see what happens! Any thoughts on where we're heading next? Let me know below!
Thanks for viewing!
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Not intended as investment, financial, or trading advice. For entertainment purposes only.