Bitcoin Chart Update (1/20/18)

Hello all! Hope you are having a great day!

Today is the 2nd update of my daily technical analysis for bitcoin, hope you like it!

As you can see, the price broke above the downtrend line and closed there which is a good sign. This could signal Bitcoin starting an uptrend!

Also it has broken into the cloud also which means that it could break through the cloud the next coming days and retest the 14Kish level. This is based on the ichimoku cloud "edge to edge" movement/indicator.

The RSI is still trying to break out of the downtrend and is very close to doing so, this could also be a bullish sign!

I hope you liked this quick update! I will see you tomorrow!