Bitcoin met expectations and has maintained a great position over the last seven days.
In the last analysis, we wrote that Bitcoin no longer wants to go back under $ 10,000, and this was confirmed. After overcoming the long-term resistance at $ 10K, it was very important not to return to it, and the bulls successfully regulate the market. The Bears did not lower the price below $ 11K for the entire week, and today we reached a daily high of $ 12,067 (binance).
What are the findings from TA?
- At 1D chart is every low higher, probability of future growth
- CME Gap in the price range of $ 9 600 – $ 9 900, probability of returning to this area
- RSI 1D / 1W chart is overbought, probability of short-term price reduction
- Important current support in the range of $ 10 500 – $ 11K, Major support at $ 10K
- Major resistance at a price area $ 13K / $ 13 500
If you are considering trading be focus on the area of support and major resistance.
Read also: Bitcoin has a Great Mood and is in the Extreme Greed zone
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