Bitcoin Trend Remains Bullish
It was an amazing week for bitcoin price as it moved above the $10,000 and $11,000 levels against the US Dollar. The upside move was very strong and the price traded as high as $11,386 before it faced sellers. The price corrected sharply lower, but downsides were limited by the $9000 level. There were strong bids near the mentioned level $9000, and the price recovered very fast.
It seems like the price is preparing for more gains above $11,000. Once there is a break above a bearish trend line at $11,400, there are chances of BTC moving past $12000 in the near term. The next major target could be $12,500.
It seems like the price is preparing for more gains above $11,000. Once there is a break above a bearish trend line at $11,400, there are chances of BTC moving past $12000 in the near term. The next major target could be $12,500.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.