BTC tried to recover from the decline on weekend and as Monday started it grew sharply. There are no major reports in influence bitcoin. While USD is recovering, the demand for bitcoin may decrease.
The support rests at 49096.60 with resistance at 54878.90 which the weekly pivot point at 53491.80 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is rising above level 50, the MACD line is above the signal line in the positive territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend and the Kijun-sen is showing a horizontal trend.
Long positions are recommended towards 56000.
