This week we have seen Bitcoin performing quite well, with it rising 10% after the Daily momentum bounced off the 50 RSI support. Can we now see a further price continuation, since the daily RSI is now trending back up, or is price overextended and a correction in store? This is our BTC analysis for 13 June 2019.
– BTC above resistance on price and RSI
– Daily showing strength
– 4-hour strong uptrend
Starting off with the daily chart we can see how momentum found support at the 50 RSI, before making a higher low. A higher low on the RSI tells us that buying power is now stronger than selling pressure, therefore it’s bullish.
Also plotting our daily trend on RSI, we can see that we still have some room to grow on momentum, and as mentioned in our previous analysis, we…