Bitcoin (BTC) and Notcoin (NOT) Technical Analysis
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- 2024-07-18 05:17:031165browse
Let's examine the insights shared by our Technical Analyst at UseTheBitcoin as he walks us through his personal trading approach and observations for Bitcoin (BTC) and Notcoin (NOT).
Our Technical Analyst at UseTheBitcoin shares his personal trading approach and observations for Bitcoin (BTC) and Notcoin (NOT) in this video.
Bitcoin (BTC)
Price Action & Support Levels
We can see that Bitcoin has been trading above some key support levels recently, which is a positive sign. After a volatile period, this could indicate some stabilization. We might be seeing a potential bottom here, but it’s important to be cautious as the market’s future direction is still up for grabs.
Relative Strength Index (RSI)
Another interesting observation is that the RSI has now moved above neutral levels, which could indicate potential bullish momentum. We can also see a bullish divergence on the daily timeframe, which adds to this positive sentiment. This is another sign that the market might be turning around, but again, caution is advised.
Moving Average Convergence Divergence (MACD)
Finally, let's take a look at the MACD, which is still in negative territory but showing signs of a crossover. A bullish crossover, where the MACD line crosses above the signal line, could signal a new uptrend in the market. However, it’s important to note that the MACD is still negative, so caution is still warranted.
Notcoin (NOT)
RSI & Momentum
Moving on to Notcoin, we can see that the RSI is already above neutral levels, which suggests that NOT is not overbought and has room for growth. Additionally, the upward curve of the MACD indicates that NOT has positive momentum, which means its price will likely continue increasing.
Resistance Levels
Finally, let's keep an eye on NOT’s resistance levels. If it breaks through, it could drive prices higher. However, be cautious, as resistance can also lead to price reversals.
Final Thoughts
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