Bitcoin Could Climb in the Next Few Days

BITCOIN CHART PRICE – BTCUSD DAILY

The cryptocurrency went up during the weekend but today is having a very quiet trading session, it has barely moved from 16 USD from the opening price, we see that the Bollinger bands are closing up very aggressively, this could mean that there will not be much happening with Bitcoin for today’s session, we also see that the price is trading inside the Ichimoku Cloud which can be interpreted as a sign of uncertainty, on Friday it hit its resistance level at 8891 and then it bounced with gains on Saturday and Sunday sessions, we could expect the price to climb later in the weak, but so far we don’t have enough evidence to provide a clear path, I will monitor and see how the price behaves during the next hours, Relative Strength Index looks week, currently at 44%, although it climbed 3 points from yesterday’s closing I am not feeling confident that the price will go up specially because we expect low volatility. In the next days it might be a good long position, but we will keep you informed of our findings,

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.