Bitcoin's current status
Updated
- Bitcoin will break it's current resistance level if it closes today above our current resistance level at $11,379.
- Next resistance level thereafter will be $16,947.4.
- RSI still has room for growth.
- A lot of buying volume since start of Feb (albeit low)
Key:
Red: Resistance, Green: Support, Intensity = strength
Comment
This could be:* A small retracement to next support (or close to it)
* A bounce from resistance that could confirm a downtrend
It's uncertain to confirm either way. The only bullish signal on this chart is our RSI. Based on this, I am still bullish on Bitcoin for the next month at least before another, big, retracement.
Comment
Comment
We are now testing our $9666.9 support. If it closes below in the next few day a short order can be opened. First Target: $7474.3 Second Target: $5955.4
At $5955.4, if volatility decreases, it would be the perfect buy in range for long.
Trade closed manually
New Idea based on this low volatility outcome.
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