BTCUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME
Bitcoin prices are in the middle of a correction,not to mention it just broke above the trendline.
By using fibo tool,we see that 61.8% is near the area of interest.
If you are planning to long BTC,you can keep 11000$ area on radar.
Stochastic indicator is moving down,and it may soon get into oversold area which increases the odds to enter into buy position.however,100 SMA is below 200 SMA which indicates that sellers may again take the upper hand.