BTCUSD Breaks Resistance at 10,639

BTCUSD CHART PRICE – BTCUSD DAILY

Bitcoin was finally able to break the resistance level from the Fibonacci Retracement, the last time bitcoin trades above this level was more than 12 trading sessions ago, we can see that the Relative Strength Index is picking up, currently at 49% this could be a good indicator that an uptrend could continue, the bollinger bands are wide and we can expect volatility on this pair, the price entered the ichimoku cloud which can be seen as price uncertainty, however the cloud has an upwards direction that suggest an uptrend, the moving averages were severely affected by the 2 sessions where Bitcoin lost 14%, it would take some time or some very aggressive upward moves before we see this cross again.

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.