Bitcoin price went up a little bit and the trend is still uncertain at this time. It can go higher and if the Bull fight hard it can cross the yellow line(aprox $10,000) The opposite is down lower toward the green line at aprox $7000
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
https://en.wikipedia.org/wiki/Technical_analysis
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