Bitcoin is making slow and steady recovery toward $7000 and we think bearish market are alleviated. Last 13 September Bitcoin broke $6,450 resistance and reached weekly high $6620 after that it goes pullback to $6,380. The weekly Bitcoin technical chart show $6479.00 -0.4% about to set a higher low.
It already break this pattern last week and it’s need to wait until a few week higher low require to determine the price change turn.
6-Hour Bitcoin Price Chart
My first look is not one the price. Already I have mentioned about the Bitcoin price is moving on the towered as recovery mode. It is concerning that buyer is ending July 22 bull candlestick was confirmed last week. It is validate double bar bullish reversal pattern also there have spike in volumes reveals a little bit normal market.
In our price prediction as per our bitcoin price technical analysis it’s volume hints on the demand. Our thinking price could push towered so we expect to take profit at $10,000. Already we are declaring about the price prediction near soon we see the price will increase.
Bitcoin Daily Chart
There has two level support on that time frame. Three months support trend line and support zone between $5,750 and $6,050. Already three month Bitcoin price support trend has found. Though I still stand on the natural position on this stage. Until it breaks the high volume trend above $7000 and $7,200.$7,200 per chart.
That would be a optimistic flee and therefore the necessary footing for market boosting gains. There when, risk on Bitcoin patrons will begin initiating longs on each pull back in lower time frames. cheap targets are at $10,000.
Disclaimer: Views and opinions expressed area unit those of the author and aren’t investment recommendation. Trade of any kind involves risk then do your due diligence before creating a trade call.