Bitcoin price movement is still to the upside.
Welcome to a new week of more profits as bitcoin price tends to rely on support for a short rest before continuing to the upside.
We may experience more of consolidation around the area of value, yet are still optimistic of the uptrend.
Why should we expect more highs this week?
Bitcoin price has formed a consistent series of higher lows and has returned to retest the area of value.
We expect the price to break the present resistance before we can make the next entry. Also, the MACD movement above will help our next entry by waiting for the upward MACD cross.
Looking at the technical indicators:
- Major Support Level – $10,917