Bitcoin (XBT/USD - BitMex) - Weekly resistrence Challange

Bitcoin (XBT/USD - BitMex) - Weekly resistrence Challange

By milionarioo | DigiNomic | 15 May 2020


9500 on weekly time frame plays a very important role: it is a key historical price level.

So far it has always originated supply, particularly in the last two approaches, but this time the demand seems more convinced.
On a daily time frame, by the way, this morning it was re-attacked from above, generating demand and absorption (for now) of the dump.

A weekly closure extended above this level, in short, in addition to showing another leg up without absorption (unlike last week), could generate additional liquidity in demand on it, which in turn could become a launch base more solid to break the local highs.

His refusal, on the contrary, would show that there is still not enough push and, although obviously not invalidating the Bias bullish, it would leave another obstacle intact to continue the bull run.

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