Bitcoin has impressively held onto it’s gains over the last 5 days. It continues to find resistance right around $5,350. Over the last few days price has created a series of higher lows backed by daily volume well above $15 Billion. If new weekly highs are achieved, the next area of major resistance is between $5,900-$6,000.
Earlier today, price retested the prior weekly high of approximately $5,350. This triggered many of the stop losses on short positions...about 27% to be exact.
In today’s analysis I discuss where price may be heading next, market psychology, traps to avoid 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: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing.
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