A good week is at hand as we greens on the chart. I hope a few of us traded this upward move. Majority have lost hope in bitcoin as lots of calamities befell the coin last year. We cannot but hope that this year will be better for bitcoin price. Last week we had a target of $8,670, though we didn’t hit the target, but we are close to hitting it and every condition points to it even going higher than our target. We had a MACD cross above last week which made bitcoin price climb to $8,277 before retesting the new support at $7,783. This formed a bed of bitcoin price for the next climb which was accompanied by the MACD upward cross. Our next target for this week is $8,714, and we hope it shoots up to the next resistance.
Looking at the technical indicators:
Major Support Level – $8,277
Major Resistance Level – $8,714
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