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Feb5: #Bitcoin: BTC jumped 10% within 14 hrs just after th | Crypto Universe

Feb5: #Bitcoin: BTC jumped 10% within 14 hrs just after the breakout and still trades above $41000. BTC was running in a downtrend/falling wedge for a long time so this breakout might give fresh energy to the crypto market. It opened the path for a new uptrend channel.

Support & Resistance: Bulls should try to hold support of $38k-$39k to maintain further uptrend while $44500 will be the next resistance for Bitcoin.

RSI: Daily RSI also shows a breakout and indicates that BTC will be ready to go up to $48k-$50k with small volatility.

Trade the Range.


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