3 min readBITCOIN (BTC/USD):
As I mentioned in my previous article, I expected this support level, which aligned perfectly with the key psychological threshold of $60,000, to hold—and it did so flawlessly. While last week didn’t bring much momentum to the cryptocurrency market, we began to notice a shift in sentiment and an increase in volatility starting late Friday afternoon and continuing into the weekend.
Taking a closer look at the technicals, it’s evident that there are some internal resistance levels to watch as the price moves upward. The first is the descending trend line, which aligns well with the resistance zone around $66,000. At the moment, the RSI indicator shows no signs that the current price action is slowing down or entering “overbought” territory.
Author
Risk Disclaimer Disclaimer: The information provided does not constitute, in any way, a solicitation or inducement to buy or sell any of our products.
Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.
