If you remember my previous analysis about bitcoin , you'll realize that the price is now testing the strongest resistance trend line after yesterday's close on weekly candle. Yes, the price is now trending slightly at the resistance trend line that has held the price since its ATH . Breaking out above this resistance trend line , the price will face the last resistance to confirm its bullish moves which is the area of $10000 as the psychological area for trader.
With this current moves, my previous bias has been filled and there is still a potential of the price to climb higher to $11600 which region I've anticipated previously. Another good indication is on the 2 oscillator indicators which is the MACD and RSI . For the RSI perspective, although the line is still trending inside the neutral zone, the line is forming a curving up on daily level. This is good because we haven't seen this bullish curving up since the last 10 days. Meanwhile, the MACD is looking bullish too with the histogram is ticking up with a significant added momentum. I feel like there will be a reclaim to the positive side in the next 2 or 3 days.
The next 3 days is a very important day in the market to identify the future movement of the price. My bullish bias is still in play for now. Breaks above the white resistance trend line will leads the price to higher level of price action. On the other hand, getting rejected from current level will leads the price to print further loss in the market with a confirmation of future bearish structure.
With this current moves, my previous bias has been filled and there is still a potential of the price to climb higher to $11600 which region I've anticipated previously. Another good indication is on the 2 oscillator indicators which is the MACD and RSI . For the RSI perspective, although the line is still trending inside the neutral zone, the line is forming a curving up on daily level. This is good because we haven't seen this bullish curving up since the last 10 days. Meanwhile, the MACD is looking bullish too with the histogram is ticking up with a significant added momentum. I feel like there will be a reclaim to the positive side in the next 2 or 3 days.
The next 3 days is a very important day in the market to identify the future movement of the price. My bullish bias is still in play for now. Breaks above the white resistance trend line will leads the price to higher level of price action. On the other hand, getting rejected from current level will leads the price to print further loss in the market with a confirmation of future bearish structure.
