I would say the chart of BTC/USD clearly indicate the major support is around 9000, where the bull start a major rally after the slump in mid-March. The most crucial resistance is 11000$, because it's a triple technical confluence level.
1) it's the middle point of the slump this month
2) the rally afterward stops at 11000 , also a horizental resistance
3) Exponential Moving Average 100 happens to become a key threhold for bull and bear territory.
All said, if the price pushes above 11,000$, it certainly signify the resumption of bull market, and bull will most likely take out 13000 & 14000 highs.
However, current tepid market trading volume and these numberous minor rabounces show no sign of a new up offensive anytime s
BTCUSD
xoon. Range trading would be the most rational scenario .
XBTUSD.P
1) it's the middle point of the slump this month
2) the rally afterward stops at 11000 , also a horizental resistance
3) Exponential Moving Average 100 happens to become a key threhold for bull and bear territory.
All said, if the price pushes above 11,000$, it certainly signify the resumption of bull market, and bull will most likely take out 13000 & 14000 highs.
However, current tepid market trading volume and these numberous minor rabounces show no sign of a new up offensive anytime s
BTCUSD
xoon. Range trading would be the most rational scenario .
XBTUSD.P
