Bitcoin technical analysis. BTC-USD on January 02, 2019

January 2, 2019

We see good chances for building another wave of growth, which can raise the price closer to the 5000 area. The bull scenario is still relevant, support near the level of 3650 looks decent, you should pay attention to the state of RSI: clear signs of an uptrend and also a good opportunity for another wave of growth. The formation of a bull flag or a pennant is also striking, any of these patterns is a positive signal and indicates upcoming growth. In a sense, we are still neutral, the next couple of days can indicate the further direction of the market: leaving and fixing below support (not to be confused with false breakdown) will indicate a continuation of the downward trend, going beyond local resistance (not confusing false breakdown) will strengthen positive scenario and will continue the upward trend in the near future.

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