Thursday, June 13, 2019
Bitcoin has risen above $8'100 with a significant increase in volume.
Actual support/resistance: $8'100/$8'300
Thanks to a strong buying pressure, bitcoin surpassed the resistance at $8'100 and even tested the next key level at $8'300. Over the past week, an uptrend has been forming, which is confirmed by the convergence of the MACD lines and a price traded again at the level of the 20-days moving average. To hope for a breakout, the bitcoin price must break the next resistance. Otherwise, it is likely that a correction will be found with a risk of observing a so-called "head & shoulders" pattern that could cause the bitcoin to drop in the $6'500-$6'000 region.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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