BTCUUSD- Trend line breakout and bullish divergence
Bullish divergence ( CCI(50))
BTCUSD regained its positive momentum and surged more than $4000 on upbeat market sentiment.
Technicals-
Major support- $27500. Any break below will take it to the next level at $25000/$23800/$23300 if possible.
Bull case-
Primary supply zone -$30000. The breach above confirms minor bullishness. A jump to the next level of $32375/$36300/$40300/$41349 is possible.
Secondary barrier- $42600. A close above that barrier targets $48800/$50000.
It is good to buy on dips around $27500-600 with SL around $24500 for TP of $35000/$40000.
BTCUSD regained its positive momentum and surged more than $4000 on upbeat market sentiment.
Technicals-
Major support- $27500. Any break below will take it to the next level at $25000/$23800/$23300 if possible.
Bull case-
Primary supply zone -$30000. The breach above confirms minor bullishness. A jump to the next level of $32375/$36300/$40300/$41349 is possible.
Secondary barrier- $42600. A close above that barrier targets $48800/$50000.
It is good to buy on dips around $27500-600 with SL around $24500 for TP of $35000/$40000.