Overbought Bitcoin to Test $4,025 Support
bitcoin·@exxodus·
0.000 HBDOverbought Bitcoin to Test $4,025 Support
Bitcoin has been having a tremendous day today with some increased volume, validating the move.  Bitcoin's charts though are showing overbought on 4-hr and shorter time frame charts. Upper wicks and minimal price movement on elevated volumes like we've had all day are a solid indication that there will be a slight pullback to at least test the $4,025 level. There are plenty of support levels for BTC at this point, with $4,000 psychological and $3,950 tested supports right behind. On the high end, BTC will see resistance along the $4,362 level. RSI's are now seeing lower highs meaning momentum has passed it's prime peak and movement to the upside will slow down. The daily chart still has plenty of longer term upside indications, but for the rest of the day heading into tomorrow, we should see a slight pullback to right above the $4,000 level before kicking the engines back on to head up to test $4,362. Best of luck and happy trading!