March 20 BTC Technical Update 2 - We may be going up
Despite the divergence on the MACD, price has resisted crashing and only doing a small correction to alleviate the divergence pressure. And being able to hold above 8300 is still bullish in my opinion. Therefore we may be seeing another run higher possibly to 9000 and above for this leg up. However if for some reason price drops back down to 8000, we will see further selling pressure. The MACD histogram is rounding up and the MACD signal would soon follow with a bullish cross if price start going up from here. With such strong resilient prices, the 8600 should be broken easily on this upmove.
All right it is indeed up, the resilient price that doesnt want to go down is indeed a sign to go up. We will look at the RSI on 1H to look for divergences for profit taking.