Bitcoin has stalled, currently trading around $8,670. Looking at the weekly chart, it looks like price may test $8,400. If it does, bulls need to see this prior area of resistance start acting as support. Volume remains relatively strong at $25 billion.
We’re continuing to see bearish divergence on both the daily RSI and MACD.
Regardless of short term price action, long term looks very bullish. The 21 week EMA has now crossed above the 55 week EMA.
In today’s video I analyze Bitcoin, EOS, LTC, BNB, BAT, ETH and XRP. We’ll discuss where prices may be heading next, traps to avoid, key areas to watch and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Disclaimer: This is NOT financial advice.
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Feature Image By: Saul Gravy