Bitcoin is still moving upwards slowly and is gaining more volume.
The trend had a little retracement towards the 200MA which created a double bottom at $11,138.
Bitcoin price has created a good uptrend pattern as a lower high is been registered at $11,443. Also, price is back into the range of last week which is between $11,988 and $11,443.
As bitcoin price is still above the 200MA, then it’s still bullish and is expected to get confirmations of the break above the $11,988 resistance to be sure of our long position.
Next, for confirmation is the MACD MA cross to the upside after price breaks the $11,988 resistant.
Looking at the technical indicators:
- Major Support Level – $11,465