BitcoinLong
BTC/USD looking encouraging for the bulls - $7200 critical
Bitcoin has been undergoing a slow and steady climb since the low on August 14, 2018. This has created a good base of support.
Now $7200 is within sight. This is a critical resistance level for BTC/USD. A sustained break above $7200 would completely change the longer term picture, and further gains would be quite likely.
The moving averages on the daily chart are bunched up, suggesting a longer term powerful move is near.
My feeling is that BTC/USD will overcome this resistance, perhaps in the next week or so.
$6600 is critical support, and failure here would be bearish.
Now $7200 is within sight. This is a critical resistance level for BTC/USD. A sustained break above $7200 would completely change the longer term picture, and further gains would be quite likely.
The moving averages on the daily chart are bunched up, suggesting a longer term powerful move is near.
My feeling is that BTC/USD will overcome this resistance, perhaps in the next week or so.
$6600 is critical support, and failure here would be bearish.
Disclaimer
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.