Chart of the Day - Tuesday, February 8th, 2022

Today’s Chart of the Day was shared by Rolando Santos (@TKPTrader). We highlighted this chart last week, but a lot has changed in that short time. Over the weekend, Bitcoin reclaimed key support around $41k (red line) and it continues to trade firmly above it around $44k as of writing. Rolando points out that momentum has shifted back into a bullish range with RSI above 60 for the first time since November.  This is a noteworthy improvement for Bitcoin. Bulls want to see price continue to hold above $41k, and RSI to remain in a bullish range above 50-60.