Bitcoin has been in a bullish trend forming higher highs and higher lows. This indicates a bullish trend and the market has the potential to create another impulse bullish wave, going upto 26000. We are looking to take a long from the support level priced at 23700. 

The ascending trendline is going to be retested at the support level and might confluence with the level.

There is no retracement indication as of now.

EMA 50 is bullish and the market has the potential to retest it at the later time. At the support level, it doesn't seem to be retesting the EMA 50 as of now.

RSI is at 65. This needs to be neautralized at the level of 50 from where we can have a technical standpoint of the support level.

Bitcoin buys from 23700

Feb 18 2023