- BTC / USD well positioned to break above the $ 15,000 level.
- Formation of a possible bullish flag on the daily chart.
- The overbought RSI warrants a pullback before the uptrend resumes.
He Bitcoin (BTC/USD) It is positive again above the $ 13,000 level on Monday, reversing a temporary setback observed on Sunday. The number one cryptocurrency is seen to be testing daily highs, looking to retest Sunday’s high of $ 13,359.
From a short-term perspective, BTC / USD is poised for a further rally towards the $ 15,000 levelwhile the consolidation after the last rally has created a bullish flag pattern on the daily chart.
A daily close above the resistance of the uptrend line at $ 13,379 could confirm the bullish breakout.
However, the 14-day RSI being heavily overbought, around 79.20, which suggests that a corrective pullback cannot be ruled out before the bulls regain momentum to the upside.
If the bulls fail defend the rising trend line support at $ 12,681 on a daily close, the pattern will be invalidated.
In that case, the 21-day bullish moving average at 11.797$ it will again be the target of the sellers.
BTC / USD daily chart
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Credits: Forex Street
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