Price slowly moves out of downtrend yesterday after breaking the resistance at 10900. Now a bullish sign is prevailing due to several reasons.
MACD is pointing upwards with RSI still below 60. This is a good sign for a uptrend price movement because of the fact that if MACD breaks out RSI got much room to grow above $12000. Further Bollinger Bands are still squeezed and a completion of inverse H&S shoulder pattern is likely to give more hopes for an uptrend.
Price might face resistance at 12500-12800.
Note : Trade at your own risk.
Steem / SBD : @Shafay
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