It has been inspiring knowing that bitcoin price is gaining momentum steadily, though not too progressive but at least we are getting a few gains. Last week bitcoin price appreciated to $10,900. We indeed expected a surge beyond $11,000, but it appears the resistance at $11,900 could not be broken which caused a retracement. At $10,378 a lot of fluttering is occurring, and this may affect the next move if this price does not hold.
What To Expect This Week
We previously broke a bearish trendline which shot up to $10,900 and now dropped to $10,378. This week we expect that bitcoin price should find support at $9,937 and then move upwards. To know when to make entry ensure that the MACD cross has occurred in the upward direction.
Looking at the technical indicators:
Major Support Level – $9,937
Major Resistance Level – $10,378
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