A new week indeed for us as bitcoin price decided to recess a bit. Basically, we are still having a small performance in the uptrend and should have a run up soonest. We expected bitcoin price to push up a bit before moving to drop, though $12,000 level was touched before pulling back and we hope it moves to our first target, $12,887. Bitcoin price movement has absolutely affected other altcoins and it’s still not too save to trade them against bitcoin because of its imminent bullish trend.
What To Expect This Week
Bitcoin in its self is probably trying to find a good ground for a bounce. This might be on the 10 EMA or at support level $10,769. For those in the trade already, hold on but close the trade if it touches $10,769. Those yet to enter, I suggest you wait till $12,000 resistance is touched and broken before you consider an entry.
Looking at the technical indicators:
Major Support Level – $10,769
Major Resistance Level – $12,000
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If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.
I'm an aircraft engineer and mechanical engineer by qualification. By profession I'm an I.T professional, forex trader and cryptocurrency trader. Derive joy impacting people.
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