Bitcoin just went berzerk on the bullish side, denoting a bullish trend and momentum, forming the higher highs and higher lows. Now that market is staging at the support level of 30000, which is our long position point. Overall, BITCOIN is currently ranging. If market breaks past the resistance, we can easily tap the 32,000 mark.

The descending trendline has broken out for buys, which means, there is a confirmation of the bullish sentiment further more.

In a ranging market, there is no retracement setup.

EMA 50 has broken out for buys. At the retracement or retest, we will see the EMA retesting along with the support and retracement levels.

RSI is at 40. It needs to rbreak the 50 level and then retest it. From there, we will be aligning the technical factors.

Bitcoin ranging to boost up

Jul 15 2023