BTC Price Analysis: $8K incoming, Bitcoin leaning towards green day


Taking a look at RSI we are able to spot a downtrend on momentum. Simply plotting out a trend line on most of the highs, we can identify the general downwards trend for momentum.

What this tells us is that momentum is currently making its way towards the trend line, indicating that we will see price rise. With momentum behind us on the smaller time frame, and the fact that momentum on the higher timeframe needs to return to the trend, this leads us to believe that BTC will see an increase in price today with a target of $8000.