Bitcoin : Trend is bullish now after a break above 8500$
Bitcoin had a successful break above 8500$ yesterday and price tested resistance 8900$, and now currently trading just above 8600$.
on a 15D chart, we can spot three doji's before a breakout on the current candle.
The last three 15D candles represents accumulation in 6500-7500$ range, where 6500-7000$ Area was short-lived and bough quickly by buyers.
The 7000-7500$ area received maximum attention from buyers in the last few weeks. 7500-7700$ stayed as resistance for a few weeks, before a breakout in starting of the year.
The current 15D candle will close today with a strong green - which indicates a trend reversal, also indicates the price has come out from accumulation range.
Overall Bitcoin is looking bullish right now, but still expecting a retest of 7500-7700$ before a successful break of 9000$.
on a 15D chart, we can spot three doji's before a breakout on the current candle.
The last three 15D candles represents accumulation in 6500-7500$ range, where 6500-7000$ Area was short-lived and bough quickly by buyers.
The 7000-7500$ area received maximum attention from buyers in the last few weeks. 7500-7700$ stayed as resistance for a few weeks, before a breakout in starting of the year.
The current 15D candle will close today with a strong green - which indicates a trend reversal, also indicates the price has come out from accumulation range.
Overall Bitcoin is looking bullish right now, but still expecting a retest of 7500-7700$ before a successful break of 9000$.
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