Last week we envisaged that bitcoin will reach $12,000, but expected it to exceed our target. We have indeed exceeded $12,000.
Bitcoin is not only in a bullish trend but indeed in a strong uptrend. Bitcoin retest is present now but we expect the MACD cross to happen soon as is our strategy.
The present support is $12,812, but it’s necessary to watch carefully as $11,988 might be retested.
For this week, our target is $13,958 after our next breakout occurs.
Looking at the technical indicators:
- Major Support Level – $12,812