Bitcoin has remained above $10,000 in intra-day trading today, with multiple breakout attempts to reach the $11,000 mark. It seems as if a support at $10,800 is is forming and the bulls have been successful in keeping BTC above that level. There are stronger supports below although the confirmations of a $10,800 level of support are increasing and I am confident that BTC will be able to sustain that price level. The bulls are aiming to hold BTC above the $11,000 price level and there have been multiple candlesticks with swing-highs well above $11,000 which shows that the crypto remains bullish in the short term. In the past week, BTC has been forming a bullish wedge as it reaches new swing-high's and is consolidating at higher price levels as the market continues upwards. A pump is expected in the coming days that would bring BTC above the resistance it is facing around $11,000 and fuel the continuation of this bull market. Once BTC is able to sustain the level of support at $11,000 it's next hurdle will be to break through the next fib level that lies before BTC can reach the psychological resistance of $11,500. My perspective remains very bullish and I am expecting to see BTC reach those new price targets at some point this week.
DISCLAIMER: I am not a financial advisor. this is just my perspective. take it as you wish...
DISCLAIMER: I am not a financial advisor. this is just my perspective. take it as you wish...
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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.