BTCUSD weekly chart shows bullish reversal, indicating over the next few weeks we might see bull continue to push prices higher.
On the daily chart an inverted head and shoulders have formed on the bottom, but BTC continues to struggle against 6800, which it has touched several times. This week, there might be just enough momentum to push through resistance at 6800 to next resistance/support level at 7.7k as bulls gain confidence.
On the daily chart an inverted head and shoulders have formed on the bottom, but BTC continues to struggle against 6800, which it has touched several times. This week, there might be just enough momentum to push through resistance at 6800 to next resistance/support level at 7.7k as bulls gain confidence.
Note
Update:Right now bulls seems to be stuck in an RSI equilibrium formation on the 4hr chart. There's probable chance that this might not result in a bull break, instead breakdown to form another higher low. To have a proper breakout bulls need to push much harder against 6800.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.