BTCUSD Very Bullish

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

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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