To me, it’s another speculation trying to bounce back. To many however, it’s a progressive investment on the future.
Regardless, Bitcoin (BTC/USD) has a chart that is trying to bottom as it nests on the daily SMA 50 and attempts to break a fan line. Both RSI and MACD are positive and far from overbought. Though I’d not want to see it drop below the slightly up-turning SMA 50, important short-term support is shaded at and just above 39000.
Clear resistance comes into play at around 45600. If it holds the SMA 50 it could make a try to that resistance area or even the SMA 200 around 48400. Of course that could also be the beginning of a new bull phase, but for this update let’s just project a possible bounce.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
