BTC / USD rallied today, breaking the 45050 mark marked by the September 24 high, completing a complex fault oscillating bottom formation. In our opinion, today’s momentum has returned the short-term outlook to a positive outlook.
We believe that traders may soon challenge the 48415 territory, marked by the September 15-16 highs, but may decide to take a break after doing so. This could lead to a setback, but we expect it to remain capped above 45050. Traders could pick things up and push the stock above 48415 this time, a move that could lead the way to the 50840 area, defined as a resistance through the lower inner swing on September 6.
In giving us oscillators à court terme, nous voyons that the RSI is légèrement déplacé vers le nord et s’est déplacé au-dessus de son leveau 70, also that the MACD passes on the fois ses lignes zéro et de déclenchement, pointant upwards. Both indicators detect a strong upward speed and corroborate our opinion about new advances in this cryptocurrency.
Now to abandon the bullish case, we would like to see a return below 44040, marked by yesterday’s high. This may signal the crypto’s return to the consolidation range and return the outlook to neutral. However, we could see some declines to Tuesday’s low of 40755, the break of which could point to the 39415 hurdle, defined as support from the September 21 low.