“Bitcoin held important cloud-based support near $40,000 and has generated an oversold ‘buy’ signal from the daily stochastics after a three-day rally, supporting a short-term bullish bias,” Stockton said in an email. “The daily MACD is pinched as well, reflecting improved short-term momentum that supports a move higher toward next resistance near $48.1K, defined by the 200-day MA.”
Bitcoin Investors Eye 200-Day Average After Three-Day Rally, Analyst Says
