Resistances @ 7400 & 7800
Supports @ 7100 & 6900
Bitcoin is currently moving in a descending channel and earlier today we had a rise in demand and a good return.
An important resistance is at 7400; if #BTC can stabilize above this resistance, we can expect a lower high. But in general if we cross 7800 resistance level we can confirm a new uptrend.
The good news is, we have a decline in falling speed of the price in final waves and lastly, the status of the indicators which are promising.
Supports @ 7100 & 6900
Bitcoin is currently moving in a descending channel and earlier today we had a rise in demand and a good return.
An important resistance is at 7400; if #BTC can stabilize above this resistance, we can expect a lower high. But in general if we cross 7800 resistance level we can confirm a new uptrend.
The good news is, we have a decline in falling speed of the price in final waves and lastly, the status of the indicators which are promising.
Possible Scenario
After correction until the indicated region and completing 5 waves, can start with an uptrend to reach for 8K area.
If Bitcoin makes this scenario happen; we can confirm the new ascending trend.