Happy new week. It seems we are printing bitcoin in our backyard. We’ve had an awesome trading experience for some weeks now. Last week we hit our target significantly. Bitcoin news has really helped the spike in a way. Sometimes, technical analysis is good, but it’s good to also listen to the news as this may help predict the next market move. On a short term consideration, it’s good to check the news. As bitcoin gains more momentum against the dollar we look to see a rise in its move towards $10,378 and then $10,879. Bitcoin price is presently touching resistance at $9,913 which must be broken for our target of $10,378 to become a reality.
Looking at the technical indicators:
Major Support Level – $8,428
Major Resistance Level – $9,170
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