Different indicators and oscillators:
Now I would like to again show you the different indicators and the oscillators on the . As we have already discussed that the price action is having a very nice bounce from the 100 . Now if we watch the moving average convergence divergence ( ) indicator then it is still turning and the showing that the momentum is getting changed from to and if we take a look at the oscillator then it has given bull cross from the oversold zone.
Now if we take a look at the different levels on the then it can be observed that the price action has successfully re-tested the $10,000 that was previously working as a resistance before August 2020. Now there are a strong chances that the price action will try to break out the $11000 resistance. If we take a closer look at the then the priceline has another hurdle between $11000 and $12000 resistance levels and that is the 50 . At the time of writing this resistance is at $11250. Therefore we can expect a rapid move upto this resistance.
As after the consolidation phase the priceline of the king of all cryptocurrencies is having very nice bounce from the different moving averages on the daily and on the long-term charts and all the indicators on the are turning . This is a very clear confirmation that the price action may try to breach the next resistance at $11,000 very soon. However, the further move to the upside depends on the indicators on the if they will be continuously turning then price action of BTC will be moved more up.