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BTC/USD Daily Chart

  • BTC/USD went up from $5,300 to $5,380 this Monday.
  • The market is trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200 curves.
  • The SMA 200 and SMA 50 curves are on course to chart a golden cross pattern.
  • The price is currently trending in a channel formation, and the bulls are looking to breach past the $5,400 barrier.
  • The signal line is diverging away from the moving average convergence divergence (MACD) line indicating stronger bearish momentum.

BTC/USD 4-Hour Chart

  • The 4-hour BTC/USD price chart has been trending along horizontally for quite some time before it had a bullish breakout by bouncing off the SMA 20 curve.
  • The market found support on the red cloud of the Ichimoku indicator.
  • The Elliot wave shows four consecutive bullish sessions of increasing intensity.

BTC/USD Hourly Chart

  • The 20-day Bollinger band indicates increasing market volatility.
  • The second last session brought the price back inside the Bollinger band.
  • The relative strength index (RSI) indicator shows that the market has gone out of the overbought zone.
  • The SMA 20 has crossed over the SMA 50 which is a bullish sign.

Key Levels