BTC/USD Update
Updated
This latest bounce in price is validating the uptrend that we have been in for the past month or so. While resistance was hit around 7400, we are still on pace to set another high. The price has been declining over the past week and a trend line has emerged. If this resistance can be overcome, all signs point to another attack on the 7400 levels.
Volume still remains weak and no large moves will take place without supporting volume. But watch for a break above the resistance line.
Volume still remains weak and no large moves will take place without supporting volume. But watch for a break above the resistance line.
Note
Well, that happened faster than expected. The volume is looking to support this breakout. Next target is resistance around 8200
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