After rallying over the past week with implications of a reversal, bitcoin is still encountering a lot of bearish sentiment. Presently, bitcoin is up against resistance from the 200 ema on the 8-hour time frame.
This would not be the first time Bitcoin has broken through resistance in this rally, however there are many areas of resistance in the mid-7k range.
Is this more than a short-term rally? The weekly stochastic is turning up, and the daily is trending up to a 4-day. There is at least potential for a reversal.
This would not be the first time Bitcoin has broken through resistance in this rally, however there are many areas of resistance in the mid-7k range.
Is this more than a short-term rally? The weekly stochastic is turning up, and the daily is trending up to a 4-day. There is at least potential for a reversal.