Hello, dear members of LeoFinance!
As you have already noticed, today Bitcoin has recorded a solid price increase!
So, in the weekly chart (1W), BTC/USD is forming a solid bullish candlestick:
It is worth mentioning, that the current weekly candlestick has surpassed the closing price of the bullish candlestick /(the opening price of the bearish candles) in the previous local high that is equal to $11,916 per one Bitcoin. Moreover, it has also surpassed the highest price ($12,473) of the previous local high as well. Now, I will consider the range between $11,916 and $12,473 as a support zone.
Of course, till the end of the week there is enough time and the current candlestick may change. But, if at the end of the week we have a bullish candlestick like the current one, that will be a very good bullish signal.
By the way, the current price increase of Bitcoin coincides with the announcement of PayPal to introduce cryptocurrency to its users:
Source: Twitter
So, fellow LeoFinancier, what do you expect from BTC in the near future?
p.s. at the time of writing one Bitcoin costs $12,925, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.
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