Plain and Simple Bitcoin Daily Analysis - 3/17/21 - BTCUSDT

Plain and Simple Bitcoin Daily Analysis - 3/17/21 - BTCUSDT

Yesterday, price action followed precisely my support line at 56K that seems to really hold well

Stimulus checks will hit the banks and the market this day

Plus

Most of the week end retail FUD has been now dissipated.

Great fundamentals then.

On the chart, RSI is pretty oversold, macd about to cross bullish, and VIX still high while it hit recent bottom.

Seems like we have all the ingredients for a steady day above 56K and most probably up to 59K again

On the short term, 30 minute chart show 3 bullish divergence.

Another positive sign for today.

If you did not long yet, it's time to get in ;)

Thanks for reading !

Stay safe.

And remember, no pain, no gain !

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