Bitcoin (BTC) meets resistance
In units of weekly time, Bitcoin has not moved too much since last week. Despite a small bullish candle , it is still consolidating below the resistance of $ 12,000. For the moment, the trend remains bullish.
In daily time unit, we can see very clearly that the resistance of $ 12,000 is very effective in its role of blocking the price of BTC . This for almost a week and in a very precise way.
Two options are possible:
- Breaking of resistance at $ 12,000 and bull-market.
- Correction towards the GAP of approximately $ 9700 / $ 9800 before rebounding.
In the event of a correction, it would be interesting to sell back towards the $ 11,500 in order to hope to be able to take advantage of a strong retracement allowing to resume a position towards the approximately $ 9,400 .
Ethereum (ETH) in consolidation
As for Ethereum, the setup is still pretty much the same as Bitcoin . In weekly time units almost nothing happened. It is currently below the resistance of $ 400 . This does not call into question the uptrend it is in .
The conclusion is the same as for Bitcoin. If the price of ETH is going to pick up $ 360 in a bearish impulse, this could be a sign of a correction towards the $ 300 zone . But this is currently not relevant.
The LINK achieves a new ATH
The LINK price hit record highs again with a new ATH at $ 14.35 . It is currently consolidating its position. There is no sell signal at this time. However, it is too late to take a position on this cryptocurrency at this time. This is because the possibility of correction remains very high.
When several cryptocurrencies encounter strong resistance, such as Bitcoin and Ethereum currently, this can trigger a movement of market stagnation , or even small corrections before being able to start rising again.
The Tezos (XTZ) discovers new heights
The price of Tezos took more than 30% over the last week , following a buy signal identified within the Private Club. Which allowed it to register a new ATH at $ 4.38 as well . A movement which places it in a very strongly bullish dynamic .
The general market trend remains bullish , although some cryptocurrencies are currently stabilizing. We must beware of strong resistance placed on this course which is still on the rise.
Remember to always secure your positions with Stop Loss (SL) which will allow you to limit possible losses.
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