BTC continues to Climb

22 thg 7

So we are back with a new monday and if you have been keeping an eye on the chart, you know it played out exactly as we wanted. We had a weekly close above the resistance and the btc has created 2 small supports about the resistance. Be warned, these supports can be tested multiple times and there might come a time if the bear volume rises that price comes down to the second support. Once tested, it will bounch back and will try to break the next resistance.

The current price is supported of 20MA and MA50 is waiting between the two supports to provide additional support in case of a bear run over.

Above the current zone we have a slight resistance that can halt us for a while but it is easily breakable.
During the weekend, the change in US politics caused the price to take a jump (within the prevision 12 hours).
This week is going to be very crutial for us. Watch out for the Bitcoin conference being held as Nashville.

We have a big concern for now and that is the zone around $69,000 however I believe during the conference the price is going to shoot like a rocket. It should touch atleast 73K if not 75k.

Make sure to be alert if you are going to take trades as the market has a tendency to try and capture big leverage people.
For sure millions of worth of shorts are going to get liquidated, but there will be many long positions as well who will become victim to the market.

Let's check in the evening how the market plays off.