BTC looks to be recovering after hitting its lowest level since mid February
it however looks like it may struggle to break the 8600 level given the strong resitance at this level
The bounce off 7300 was driven by strong volume
it would be possible to push further beyond 8600 with similar volume profile
if the market pushes it further, the next stop for the currency will be 9400 level.
however if the price bounces of the current resistance level it is possible to see it going further down to recent low of ~7300
the markets are still pretty bearish with very little positive news coming out in support BTC
The 9 period MA is crossing the 21 period MA signaling a possible upward trend, but it is till too early to call it as not much of an angle has formed between the two lines
it however looks like it may struggle to break the 8600 level given the strong resitance at this level
The bounce off 7300 was driven by strong volume
it would be possible to push further beyond 8600 with similar volume profile
if the market pushes it further, the next stop for the currency will be 9400 level.
however if the price bounces of the current resistance level it is possible to see it going further down to recent low of ~7300
the markets are still pretty bearish with very little positive news coming out in support BTC
The 9 period MA is crossing the 21 period MA signaling a possible upward trend, but it is till too early to call it as not much of an angle has formed between the two lines