After a week in the green, the market takes a break. To better take off again?
Current support / resistance: $8'600 / $8'900
After an extremely bullish week which saw Bitcoin gain over 10%, a correction was seen today. Despite this correction the momentum is bullish with an RSI on overbought and the whole market is recovering.
In order to hope for a continuation of this momentum, one has to hope for a consolidation above the trend line and a break of the current resistance. Such a scenario would see Bitcoin rapidly approaching the psychological level of $10'000.
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.