- The MACD indicates increasing bullish market momentum.
- Despite a dip, the RSI is still trending within the overbought zone at 79.63.
BTC/USD daily chart
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With three days left to go before the halving, the bulls started to consolidate their position by taking advantage of this Friday’s dip. The price of the asset has gone up from $9,806.63 to $9,882.85.
There is a drop in the RSI as well, but it is still trending within the overbought zone at 79.63. While this ideally signals an upcoming short term bearish correction, we believe that the bulls will continue to consolidate till Tuesday’s halving.
The MACD indicates increasing bullish momentum. Ideally, the bulls will want to conquer resistance levels at 10,036 and $10,359.55. On the downside, healthy support lies at $9,500 and $8,780, which must be defended on the face of a sudden bearish onslaught.
Key levels
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