Clear support at $40K: Bullish Divergence on RSI
It appears that there is very strong support at $40K. Moreover the RSI on the 4hr indicates bullish divergence. The strong support, coupled with the tight squeeze due to the supply line, suggests a pop to the upside in the next few candle sticks given the RSI and MACD. This will create the breakout (JAC) and subsequent backtest (BUEC). If the back tests bounces off the support parallel to the previous ATH, the next target based on a 100% measured move is approximately $50K. And we wait.
