As we can see bitcoin broke again the 7k area. All the signals still bearish but if we break the zones that appear on my chart we will be in a bullish channel.
I recommend shorting this positions 7.1-7.2k and a stop loss in 7.6k levels.
Bitcoin is following stocks market as SPX500 futures showed bullish signals today.
After a successful close above USD 6,550, bitcoin price mostly traded in a range. Recently, BTC/USD bulls came into action, resulting in a sharp rise above the USD 6,850 and USD 7,000 resistance levels. The next key resistance is near USD 7,200 and USD 7,250, above which the price is likely to test USD 7,500.
On the downside, an initial support is near the USD 6,850 area. The main weekly support is near the USD 6,550 level, below which bitcoin price is likely to move back to 5-4k levels.
Many thanks.
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