BTCUSD Recovering Lost Ground

BTCUSD CHART PRICE – BTCUSD DAILY

Bitcoin started the trading day with significant gains over the Us dollar after losing some ground on the previous trading day, it’s too early to try to predict what the price could do at this point, but some technicals indicate that the price could continue rising at least for the short term, Bitcoin has been unable to break its resistance at 12,134 usd, but made some close calls on previous days, could this be the time where it has a breakout? It’s hard to tell if that could happen in the short term, but I feel that it could get pretty close to that resistance level very soon, the Relative Strength Index is at 61% so this could still be a good chance to enter the market, but the potential gains might not be worth the risk, the bollinger bands are getting narrow but still pretty opened, and the moving averages get wider and wider as time goes by.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.