Bitcoin Price Expectation For This Week
Though the momentum of bitcoin price is dropped, we expect that it should find support for another short bull run at level $9,943 without a cross below 55 EMA. If we should see bitcoin price movement below the 55 EMA at this junction with the support level broken downwards and the 9 EMA crosses below the 55 EMA then will have to short (sell) our stakes. In conclusion, our determinant move is in the sustenance or break of our support level, $9,943. If the former, then our MACD cross above will give our next entry, but if the latter, then we might be in the proposed bearish trend.
Looking at the technical indicators:
Major Support Level – $9,943
Major Resistance Level – $10,800
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