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BTC Hits $18K Forming Cup Pattern, Can the Bulls Form Handle at 20K?

Bulls pull BTC out of red zone amid heaping pressure from the bears.BTC struggles to get going after the early November crash but recovers well in late December.The RSI is at...
BTC Hits $18K Forming Cup Pattern, Can the Bulls Form Handle at 20K?  © Reuters. BTC Hits $18K Forming Cup Pattern, Can the Bulls Form Handle at 20K? 
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  • Bulls pull BTC out of red zone amid heaping pressure from the bears.
  • BTC struggles to get going after the early November crash but recovers well in late December.
  • The RSI is at 81.18, well over the overbought region; the bulls could negate this sentiment.

Bitcoin (BTC) opened the market for the week, trading at $16,802. It took a head start trading in the green zone for the first day, as shown in the chart below. However, towards the latter part of the first day, BTC tanked into the red zone and reached its lowest price of $16,720 for the week.

But before long, the bulls came to BTC’s rescue and helped the coin step out of the red zone. Following this, BTC traded in the green zone. Although the bulls were able to pull BTC out of the red zone, the bears did not allow BTC to hit $17,000 for the first three days.

However, in the early hours of the fourth day, the bulls gave BTC momentum to break the $17,000 mark. After BTC broke $17,000, it has been fluctuating in the $17,000-$17,500 range. But today, the bulls gave BTC support, and its price rose from $17,358 yesterday to $18,152 as of press time.

The post BTC Hits $18K Forming Cup Pattern, Can the Bulls Form Handle at 20K? appeared first on Coin Edition.

See original on CoinEdition

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21-02-2024 12:08:43 (UTC+7)

EUR/USD

1.0816

+0.0013 (+0.12%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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EUR/USD

1.0816

+0.0013 (+0.12%)

Summary

Buy

Moving Avg:

Buy (10)

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GBP/USD

1.2634

+0.0015 (+0.12%)

Summary

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Moving Avg:

Buy (9)

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USD/JPY

149.99

-0.01 (-0.00%)

Summary

Sell

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Buy (6)

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AUD/USD

0.6568

+0.0020 (+0.31%)

Summary

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USD/CAD

1.3510

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EUR/JPY

162.24

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EUR/CHF

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2,003.65

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10,038.20

+93.40 (+0.94%)

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BASF SE NA O.N.

46.045

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249.40

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    EUR/USD 1.0816 Buy  
    GBP/USD 1.2634 ↑ Buy  
    USD/JPY 149.99 Sell  
    AUD/USD 0.6568 Neutral  
    USD/CAD 1.3510 ↑ Sell  
    EUR/JPY 162.24 ↑ Buy  
    EUR/CHF 0.9527 Neutral  
    Gold 2,042.10 ↑ Buy  
    Silver 23.203 ↑ Buy  
    Copper 3.8697 Neutral  
    Crude Oil WTI 77.30 Neutral  
    Brent Oil 82.65 Neutral  
    Natural Gas 1.706 Sell  
    US Coffee C 188.03 ↑ Buy  
    Euro Stoxx 50 4,759.75 ↑ Sell  
    S&P 500 4,975.51 ↑ Buy  
    DAX 17,068.43 Sell  
    FTSE 100 7,719.21 ↑ Buy  
    Hang Seng 16,728.50 Neutral  
    Small Cap 2000 2,003.65 ↑ Buy  
    IBEX 35 10,038.20 Sell  
    BASF 46.045 ↑ Sell  
    Bayer 28.77 Neutral  
    Allianz 249.40 Sell  
    Adidas 181.12 ↑ Buy  
    Lufthansa 7.339 ↑ Buy  
    Siemens AG 168.72 Neutral  
    Deutsche Bank AG 11.954 ↑ Sell  
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SJC Eximbank7,630/ 7,800
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