The first psychological, as well as technical resistance at $10k, was successfully broken and now Bitcoin is facing the downtrend as the current potential resistance. There is no confirmation at this point of the rejection of the downtrend and the price is likely to continue moving higher towards 38.2% Fibs resistance at $13k. If it will be rejected, the reversal pattern could be formed, which means the price will correct back to the $10k support. However, break and weekly close above the 13k resistance should result in an immediate uptrend continuation towards either $17k or $20k resistance levels.
On the downside, two key support levels must be watched, first is a $10k, although the extends down to $9k. Second, and key resistance is at $6k, where break and close below $5873 should result in further drop towards $4k area, which at this point seem extremely unlikely scenario.
#1 Crypto Blog: http://cryptopost.com
Crypto Forum: http://cryptoforum.com
Alts vs BTC Trade Signals: http://cryptopost.com/signals-membership/
ETH Tip Jar: 0xafbc203afac03c466b9e8ce3b4c7133b710bf
May I ask you one question:
Does the SPX 500 have positive correlation with BTC?