BTCUSD – 1H Analysis

BTCUSD – 1H Analysis by ReadBTC on

BTCUSD – 1H Analysis

The MACD line is still below the Signal one which means we are still on a bearish market.

The Stochastic is below 20 which means that the downtrend is about to slow down for the short term and it’s possible to have a correction.

The price reached the Support Level at 7000$ and it bounced back from it.

Trading Idea : Buying positions close to 7000$ with a target price below 7415$ (Resistance 1)