It’s been a good start of the week and we are beginning to see more profit in the bitcoin market. This week bitcoin price is moving to the edge. I as a person has made a lot of profit from the market already and people can still take a bite of this flow. On the 4hr chart, bitcoin price has moved above the 200 EMA, and it’s heading to the next resistance. The next resistance, $7,688 is a major resistance. This might cause bitcoin price to pull back a bit before continuing. The MACD has given us more assurance on the next move as we see the upward cross in the buy zone. If you want to catch the profit in bits you can do so on a smaller timeframe, say 15min chart.
Looking at the technical indicators:
Major Support Level – $6,834
Major Resistance Level – $7,688
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