Monday, October 21, 2019
The key resistance of $8'200 broke and more than that, it broke during the weekend.
Current support/resistance: $8'200/$8'300
After a week-long of bearish moves, this weekend we finally witnessed an upward move. This happened late this Sunday when volumes and interest are usually low, this is a good sign for a potential move that can occur this week. The price really needs to stabilize above this support to show the strength of the bulls.
The MACD is starting to open up away from the signal line, announcing a positive trend. The RSI was strongly oversold right after we broke down from the $10'000 level. It is starting an upward trajectory but is still in the low levels, leaving much room for growth.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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