Hi All,
IMO these pivot points have always been the main resistances and supports for Bitcoin. Price has reacted every time it encountered one of those lines.
Therefore it is good to see that price has broken above one of those horizontal resistances. A close above 9.6k would set up a move towards 10.17k and more probable the next resistance line at 11.5k
A close below 9.6k would indicate a clear rejection and I'd be looking at the 8.2k region for next support.
my bias is up as on lower time frame it does look like bitcoin is in an ascending triangle.
If you want to keep updated with bitcoin and other altcoins look me up on twitter where I post more updates and educational content
Cheers
Cryptotoad
IMO these pivot points have always been the main resistances and supports for Bitcoin. Price has reacted every time it encountered one of those lines.
Therefore it is good to see that price has broken above one of those horizontal resistances. A close above 9.6k would set up a move towards 10.17k and more probable the next resistance line at 11.5k
A close below 9.6k would indicate a clear rejection and I'd be looking at the 8.2k region for next support.
my bias is up as on lower time frame it does look like bitcoin is in an ascending triangle.
If you want to keep updated with bitcoin and other altcoins look me up on twitter where I post more updates and educational content
Cheers
Cryptotoad