Tuesday, November 5, 2019
The price of Bitcoin experienced a strong bullish momentum yesterday.
Current support/resistance: $9'000/$9'600
Accompanied by high volume, the price of Bitcoin tested the resistance at $9'600 without success. However, buying pressure remains strong today and technical indicators are tending towards a reversal of the trend. The current consolidation is extremely healthy after last week's extraordinary movement. If the price continues to tests the resistance several times, it is likely that the price will break the resistance and see a second strong bullish momentum. This one would probably see Bitcoin go back above the critical psychological level at $10'000. After an early bearish autumn, is the market becoming more favorable for bulls?
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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