BillCharison

$BTC UPDATE: Back to the TOP?

COINBASE:BTCUSD   Bitcoin
BTC price has formed a double bottom and broke the resistance at $7935 and $8250. At the moment the price holds above $8250, means that the market is set to continue the upward trend. If the price takes an upward vector, then soon we will follow the growth to levels of ±$8565 and above. The strongest resistance is located in the $8967 zone, where BTC will decide where the price is heading globally. I also want to note the convergence, which is currently working on growth and we also see a double bottom from the level of $7700, the support for the horizontal channel.
Now the picture looks like a phase of accumulation before a break up. Therefore, you can expect the price back at levels of about $10k+. However, the chance is not 100%, that's why we talk about the levels of support and resistance.

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