Bitcoin is still showing strength as it moved up above $15K and now sits there setting the support levels and the stage for whatever may come next!
The next big ceiling to break through is going to be around $17,000 USD. This is the level that BTC bounced back to after the initial descent from $20K.
The charts are showing us a mix of good indicators with one warning sign mixed in. We have pulled back into upper band of the Bollinger Bands which is good.
The moving averages all look solid and should continue upward for a bit.
We appear to be forming a wedge and the volume trend seems to be up.
However, we are noticing in the RSI that we are above 70 right now which would indicate we're overbought and a price pullback coming out of this wedge would make sense.
Be prepared for a slight drop in the short term...
Keep watching the charts! 馃搱
Please note : this is opinion and should not be taken as financial advice.
