VIEW $BTC BTC 09/06 WHAT'S UP?
Technical Analysis:
- Daily Frame: Price is at 62K8, the overall trend is still bearish, current action is a technical retracement, RSI is in the oversold zone so there’s a chance for a bounce back. Two days ago, buyers were quite strong, but when the price reached 64K, it faced heavy selling pressure. Buyers are still trying to contest with sellers and absorb the selling pressure, which is why yesterday’s daily candlestick had a small body and wicks on both sides.
- 4-Hour Frame: In the technical retracement trend over the past few days from 59K2 to 64K, currently, the 4-hour frame is showing a correction trend with three consecutive red candles. The current price is at the EMA20 support zone, still weak as it's below the EMA 50/100/200 lines. RSI is crossing with the signal and is at a neutral level in an upward trend, so we can still expect another upward move in the 4-hour frame.
- 1-Hour Frame: Currently in a retracement phase, there's been a series of green candles for the last 3-4 candles. RSI is trending upwards and looks to cross the signal, but the resistance at EMA 100 around 63K1 will be a reaction zone. If the price breaks above that level and successfully retests, we can expect the price to push higher. The next target zone is expected to be 64K1 - 65K.
In summary, from a short-term technical analysis perspective, we can anticipate a continuation of the upward trend.
Cash Flow Data:
- Stablecoin on the daily frame is still in a downward trend, correcting. The 4-hour frame is at 8.734%, facing resistance at EMA 20. RSI is crossing the signal downwards, so during this USDT decline, we still expect a bounce back for the market in the upcoming short-term.
#CreatorpadVN
Technical Analysis:
- Daily Frame: Price is at 62K8, the overall trend is still bearish, current action is a technical retracement, RSI is in the oversold zone so there’s a chance for a bounce back. Two days ago, buyers were quite strong, but when the price reached 64K, it faced heavy selling pressure. Buyers are still trying to contest with sellers and absorb the selling pressure, which is why yesterday’s daily candlestick had a small body and wicks on both sides.
- 4-Hour Frame: In the technical retracement trend over the past few days from 59K2 to 64K, currently, the 4-hour frame is showing a correction trend with three consecutive red candles. The current price is at the EMA20 support zone, still weak as it's below the EMA 50/100/200 lines. RSI is crossing with the signal and is at a neutral level in an upward trend, so we can still expect another upward move in the 4-hour frame.
- 1-Hour Frame: Currently in a retracement phase, there's been a series of green candles for the last 3-4 candles. RSI is trending upwards and looks to cross the signal, but the resistance at EMA 100 around 63K1 will be a reaction zone. If the price breaks above that level and successfully retests, we can expect the price to push higher. The next target zone is expected to be 64K1 - 65K.
In summary, from a short-term technical analysis perspective, we can anticipate a continuation of the upward trend.
Cash Flow Data:
- Stablecoin on the daily frame is still in a downward trend, correcting. The 4-hour frame is at 8.734%, facing resistance at EMA 20. RSI is crossing the signal downwards, so during this USDT decline, we still expect a bounce back for the market in the upcoming short-term.
#CreatorpadVN