FxNews — BTCUSD bears had the upper hand, closing below the $36,538 pivot. Yet, a twist appears: a hammer candlestick emerges on the 4-hour Bitcoin chart. After that, prices rebounded above the pivot. Meanwhile, the RSI indicator hints at bullish momentum, crossing above 50.
BTCUSD Technical Analysis – A Pivotal Moment
Watch for a potential surge if BTCUSD sustains this rise above the pivot. The targets? The November high and the $38,546 resistance (R1), aligning with the bullish flag’s upper boundary. But, if Bitcoin dips below the pivot again, brace for a slide towards $35,078 (S1). Stay tuned for more twists and turns in BTCUSD’s journey.
J.J Edwards is a finance expert with 15+ years in forex, hedge funds, trading systems, and market analysis.
