This means this is the opportunity you all have been waiting for to trade bitcoin effectively and profitably.
Last week, bitcoin price reached the expected target $13,956 and bounced on this resistance level.
We envisaged a drop to $13,173 before continuing upwards. Bitcoin price has now made a new high forming a double top at the high, being $15,850.
For this week, we look to see bitcoin maintain the same momentum yet we must see a breakout formation before we make a head-on with our entry.
The MACD is presenting a retest formation and we must wait for our upward cross of the MACD moving averages.
Looking at the technical indicators:
- Major Support Level – $14,760