Bitcoin Price Weekly Update: 12th October – 18th October 2020

Bitcoin has started the expected uptrend and we hope this continues for long. 
In the course of the month, there have been lots of speculations about bitcoin price reaching $1,000,000 next 5years and others. This has caused a lot of hopes to rise in expectations.
Last week we expected a rise in price as price closed up within the wedge. Price broke out to the upside with a long bullish candle against the upper wedge line.
Presently, bitcoin price is held by resistant $11,443 and should break to the next resistant level, $11,988, which is our next target if our MACD confirms our next entry with an upward cross of its moving averages.
Though we might see some retest of price to $10,946 or $11,096 before the continuation of the trend upwards.

Looking at the technical indicators:
    • Major Support Level – $11,267
    • Major Resistance Level – $11,443

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for USD/BTC:for Naira/BTC: 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.

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