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May 17, 2020 10:45 AM

BTCUSD. Bulls vs Bears Battle 

Bitcoin / U.S. dollarBitstamp

Description

Analysis of BTC USD

BTC facing huge resistance at the falling trend line resistance on the weekly chart nevertheless the bulls are trying to push for a breakout with descending broadening wedge forming it may happen.

10500 is a key level for me if we break the trend with momentum and close above it, there is a big chance we could test the highs of 2019, but for now, I see a multi-level of resistance above where we are now 10500-11500.

Looking to the downside, if BTCUSD fails to break in the short term we could see bulls giving up and bears taking over and BTC could start to fall.
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