n the 4-Hour Chart, Bitcoin is testing the ascending triangle trendline on the downside. However, it is still within the borders of the triangle. A break-out towards positive or negative, both is possible. A break above $8350 would be strongly bullish.
The RSI on the 4-Hour Chart is towards the over-sold region at 41. However, the price has moved below the 50-Day moving average which can be a bearish signal. The MACD is also diverging on the towards the downside.
On a daily scale, the RSI is has moved in the neutral zone between over-bought and the over-sold region at 61. Nevertheless, the MACD seems to be converging after the bullish move cooled down, which might be a bearish signal.
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