Bitcoin - Resistance/Support/Target areas
Hello,
So just a quick recap; BTC broke out of the log downtrend line, so I'm expecting a rise to sub 10-11k$ as indicated in the chart.
There is a strong support at around 8.4k$.
Finally, there is some resistance at 9.7k. Thats where we saw BTC drop. The drop was totally normal to reset some of the indicators such as RSI/MACD etc... also the candle was at the top of the bollinger band.
So I'm certain that we are still bullish and the drop is nothing but a healthy test for support.
~DCFreak
So just a quick recap; BTC broke out of the log downtrend line, so I'm expecting a rise to sub 10-11k$ as indicated in the chart.
There is a strong support at around 8.4k$.
Finally, there is some resistance at 9.7k. Thats where we saw BTC drop. The drop was totally normal to reset some of the indicators such as RSI/MACD etc... also the candle was at the top of the bollinger band.
So I'm certain that we are still bullish and the drop is nothing but a healthy test for support.
~DCFreak
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