technicalwhale

BTCUSD 4 hr Analysis. Long

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is hot cake due to its current investments from Elon Musk which the firm confirmed 1.5 billion dollar investments in bitcoin .

Technicals
1) BTCUSD had formed cup and handle pattern on 4 hour and broken strong resistance .
2) Falling wedge on 1 hour chart
3) Currently has retraced to 0.23 fib levels
4) RSI is greater than 50 which indicates strong buying.

Action
Please wait for the 0.38 or 0.5 retracement levels(Profit booking can happen now) and plan for buying as we are in bull market. Never short in this markets.