Technical analysis
The daily time frame also shows that the RSI indicator is now above 50 and issuing a buy signal. The MACD signal line also shows more room for upside expansion.
The BTCUSD pair is trading towards the upper daily Bollinger Band, around the $35,250 level. A break above the upper Bolling Band would be hugely bullish.
What the possible outcomes are
In our most likely scenario, the BTCUSD pair breaks above the upper daily Bollinger Band and advances towards at least the $38,200 level.
Alternatively, the BTCUSD pair may correct towards the mid-line of the daily Bollinger Band, and then rally above the upper daily Bollinger Band.
Key levels
Support $32,600 $32,000
Resistance $36,600 $38,200
