In NFTRH 680 we noted a potential buying opportunity for Bitcoin bulls. I am not one of those, but I am the guy who updates the charts for you. A test of the SMA 50 was noted as a logical buy/add area for someone fundamentally bullish on BTC/USD (as the US dollar approaches its next target and resistance at 96).
Here are the updated BTC/USD charts, starting with the daily dropping to test the SMA 50 and corresponding support. It also shows the next support level at or just above 52,000, which could also be tested, but could compromise/delay a bullish resolution.
RSI has dipped negative below 50 and its EMA 20, and while MACD is still positive I don’t like its look. But of course, if the case resolves bullish those negatives will have been positives, refueling for new upside.
The weekly chart is still generally testing support and the weekly EMA 20. RSI is positive with a negative divergence and MACD is triggered up, positive and looking good.
