Bitcoin growth review. BTC-USD on July 24, 2018July 25, 2018
On 21 if July, we mentioned that if we break the strong resistance there would be a possibility yo touch 8400, now we can see this scenario playing out.
The breakout of the downtrend resistance gave the market an opportunity to continue the impulsive breakout.
The formation of the uptrend wedge did not stop the bulls, the overbought market continued to grow anyway.
Now Bitcoin is still overbought. 1 day Stoch RSI is moving on its ceiling, RSI is in the overbought area too, however, MACD is still strong and can indicate the impulse continuation; there is a slight possibility that the market will bounce a bit higher. Anyway, it is risky to stay, it’s better to find the good entry as 1 day impulse starts to fade out.