Wednesday, August 7, 2019
Quick decay after poking the $12'300 level.
Current support/resistance: $11'200/$12'000
After the surge of the 5 August, the trend cooled down and is now consolidating between $11'500 and $12'000 levels. Many pro-Bitcoin analysts are forecasting levels of $15'000 or more to be reached by the end of August. To see another surge happen, the price needs to break the $12'000 resistance and to maintain itself above it. If this level is not crossed in the short term there is a risk to go back to lower levels.
This slow down has stabilised the RSI(14) leaving more room for growth, and the MACD lines are still giving bullish signal.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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