As expected, Bitcoin kept rising following his rebound on the resistance cluster formed by the junction of the 9.8k support level and the uptrend.
The follow-through is a bullish signal for Bitcoin prices, buyers being able to maintain a buying pressure as Bitcoin is aiming toward the $11k resistance level.
We have been seeing an increase in buying volume on the support rejection, indicating the significant presence of buyers ready to defend this important support level.
The stochastic oscillator is on the rise along with volume, both backing up the bullish outcome.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/....................... .
The follow-through is a bullish signal for Bitcoin prices, buyers being able to maintain a buying pressure as Bitcoin is aiming toward the $11k resistance level.
We have been seeing an increase in buying volume on the support rejection, indicating the significant presence of buyers ready to defend this important support level.
The stochastic oscillator is on the rise along with volume, both backing up the bullish outcome.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/....................... .