Hello guys.
As we saw last time BTC could find a boost from the break of 200 SMA: but is BTC strong enough to leave behind this moving average?
If we consider volume we can see how it isn't peaking up, even if it's quite normal when an instrument arrives close to a critical level.
But this is second time in few days. However volume should increase if we are in presence of a true break.
As frequently happens in such cases indicators don't give us any useful information.
One thing is clear: if BTC records an increase in volume and a decisive break of 10k, we can project the price to $11500/$11600 area in short
term. In fact the more price remains under 10k, the more explosive would be the brake of the level.
10k is an important level at least for 3 reasons:
1) a psicological level,
2) an important statical resistance,
3) it coincide with 200 SMA.
We have just to wait and see.
Have a nice day.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
As we saw last time BTC could find a boost from the break of 200 SMA: but is BTC strong enough to leave behind this moving average?
If we consider volume we can see how it isn't peaking up, even if it's quite normal when an instrument arrives close to a critical level.
But this is second time in few days. However volume should increase if we are in presence of a true break.
As frequently happens in such cases indicators don't give us any useful information.
One thing is clear: if BTC records an increase in volume and a decisive break of 10k, we can project the price to $11500/$11600 area in short
term. In fact the more price remains under 10k, the more explosive would be the brake of the level.
10k is an important level at least for 3 reasons:
1) a psicological level,
2) an important statical resistance,
3) it coincide with 200 SMA.
We have just to wait and see.
Have a nice day.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***