Wednesday, July 10, 2019
The $13'000 level has been hit multiple times, will we extend above it?
Current support/resistance: $12'500/$13'000
Yesterday, we flew away from the $12'200 resistance and then the $12'500 level has served as a support for the pokes of the $13'000 resistance. The price has increased reasonably over the last days, if we pass the $13'000 level for long enough, we can expect the momentum to keep it going upward. On the contrary, if the $12'500 support is broken we can expect to visit lower levels of $12'200 or even $12'000.
The RSI(14) is still not overbought and the MACD lines are diverging, showing an increase of bull's momentum. We recall that all the indicators are described in the glossary and defined for the closing price at 00:00 UTC.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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