In yesterday’s update, I told you bitcoin looked ready to make a larger move. Since that time, we’ve seen it drop over $1,000. Price found some support at the ascending support line we’ve discussed.
Zooming out on the weekly chart, we can see we’re still trading above the upper Bollinger band. I’d like to see this week’s candle close above $11,500 later today. That would denote a major break above the prior resistance set back in January/February of 2018, which would likely signal continuation to the upside. As of now price has dropped below $11,500, trading at $11,100 on Coinbase.
In today’s video I discuss, where price may go from here, traps to avoid, key areas to watch and so much more. I hope you find it helpful.