Expected trading for today is between 11200.00 support and 12200.00 resistance
Bitcoin price has formed higher lows and
higher highs in a rising wedge pattern.
The price need to breach 11660.00 to activate the positive effect
of this pattern to continue the bullish wave.
So What Next!
The price now around 11500.00 / breaching 11660.00
and hold above it, represents key condition to continue
the bullish wave towards 12200.00 level.
Technical indicators are giving mixed signals, so the
breakout could go in either direction.
EMA50 support the bullish wave.
100 SMA is still above 200 SMA so the climb is more likely
to continue than to reverse.
Stochastic indicate a return in bearish pressure.
RSI suggesting further consolidation.
Holding above 11200.00 represents key condition to
continue the bullish wave.
Note, Breaking 11200.00 and hold below it, will stop
the bullish wave and will push the price again to start
the bearish correction.
Expected trading for today:
is between 11200.00 support and 12200.00 resistance.
Expected trend for today:
Bullish.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
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