Bitcoin is again battling resistance on the weekly chart (red diagonal trend line), but this resistance is upward sloping. If this resistance is broken, then the next resistance should be near 10,152.50 (red Fibonacci horizontal line). The overall weekly trend remains quite bullish, so I have chosen to speculate that both red resistance lines (as well as higher lines on the Fibonacci ladder) will be broken during this particular trend, with a long cost basis near 8600 (price when weekly chart turned bullish). Happy to deal with short term fluctuations along the way, hoping that my longer term speculation will succeed, bearing in mind that there are no guarantees in the market, no matter how much analysis is done.
Comment:
Price now getting close to 10,152.50 mentioned above