Last week we expected a drop below $7,847 and yes it did. It eventually dropped to $7,390 before the spike. Bitcoin price has finally made the golden cross. So we can say bitcoin is bullish now. It touched $10,378 last weekend and then dropped to $8,800. We hope this trend continues as we see an increase in volatility. Bitcoin price presently is sitting on the 20EMA as support. We expect a spike above $9,720 then we will expect a touch of $10,378 and then $10,921. The MACD has made a cross downwards, but we need it to cross above again to get a good confirmation before entry.
Looking at the technical indicators:
Major Support Level – $9,374
Major Resistance Level – $9,720
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