Hi all
We finally break the 10,5k key level resistance. Since the black swan event* in march when bitcoin fell below 4k for a few moments - we are now pretty bulish. As we can see on CHOP index whenever it was high (close to 60 points) we have huge energy which where consumed to move BTC up. Now on the daily chart the RSI inform us that its overbought and its still pretty high (close to 80). Currently its time to renew the energy in CHOP index, and it will be healthy to consolidate and test the 10,5k line as support. If not BTC will propably fall until last ~9,5 / 9,8 k price support, or descending purple line appointed from last highs from 2017. Worst scenario will be when the price fall to MA 200 and break it closing the daily chart below.
We can't forget, that bad situation in FIAT's, and positive informations from America banks, Viza, Paypall, are pretty heartening. Stay in mind that the price ~10,450k $ in June was pretty strenght same as dollar around the time. Currently is close to 10% weaker than then.
We finally break the 10,5k key level resistance. Since the black swan event* in march when bitcoin fell below 4k for a few moments - we are now pretty bulish. As we can see on CHOP index whenever it was high (close to 60 points) we have huge energy which where consumed to move BTC up. Now on the daily chart the RSI inform us that its overbought and its still pretty high (close to 80). Currently its time to renew the energy in CHOP index, and it will be healthy to consolidate and test the 10,5k line as support. If not BTC will propably fall until last ~9,5 / 9,8 k price support, or descending purple line appointed from last highs from 2017. Worst scenario will be when the price fall to MA 200 and break it closing the daily chart below.
We can't forget, that bad situation in FIAT's, and positive informations from America banks, Viza, Paypall, are pretty heartening. Stay in mind that the price ~10,450k $ in June was pretty strenght same as dollar around the time. Currently is close to 10% weaker than then.