Since the beginning of the year, only one day saw a negative candle. Will this trend continue?
Current support/resistance: $7'200/$7'600
To keep its momentum, Bitcoin will have to break the resistances that are on the road to $8'000. Levels above $8'000 have not been seen since November and after that, it has been blocked a couple of times by the $7'800 and $7'600 levels. The $7'000 level has been an impressive support during that period and blocked all bearish moves. In the next days, if the $7'600 level is not broken, we may revisit lower levels such as $7'200.
The technical indicators are currently in the green. However, this sideways market did not create clear signs. For example, we are above the 20 days moving average but since Christmas, it has been crossed 5 times.
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