[ BTC DAILY UPDATE / 2023 - 06 -22 ]
SHORT TERM SUPPORT & RESISTANCE
Support Price
1. $29,090
2. $28,020
3. $27,230
4. $26,160
Resistance Price
1. $30,960
2. $31,330
3. $32,380
INDICATOR ANALYSIS
RSI (14)
RSI didn't make bearish divergence, but it's in overbought zone. It will back to normal zone soon or later.
Stochastic (5 3 3 - For Short Term)
The short term stochastic is rising through pumping and falling through correction. The short term stochastic is rising through pumping and falling through correction. It means the bull's momentum is very strong.
Stochastic (5 3 3 - For Short Term)
The long term stochastic just made the dead cross. It can be interpreted as a bullish wave nearing its end.
SUMMARY & STRATEGY
Bitcoin quickly recovered the $30,000 price range.
As you can see from the short term stochastic indicator, bull momentum is very strong.
However, the long term stochastic indicators suggest that this bullish wave is almost over and a correction is about to begin.
But, Taking a sell position in strong momentum is very risky.
The best response would be to reduce the buy position you have.
Chart Link (High Quality)
By @CryptoCrownTM
