Bitcoin is doing good so far. If the price can maintain above 8k then the bull might be able to gain more power. That can happen if investors buy with higher volume. The opposite is also true if whales sell for profit taking. Estimated range: 7.6k ~ 8.8k
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Theory:
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
