We are trading in an ascending channel .
Bitcoin has strong support marked by trend line , moving averages and fib. support.
Right now Bitcoin is retracing, letting off pressure, to prepare for another push up.
Bitcoin Support & Resistance Levels
After we hit $7300-$7500, we can revisit the chart to mark our next target.
For support we are looking at mainly $6800 followed by $6550+.
Charts, signals & indicators
The weekly chart looks positive. This week didn't have enough volume for a strong move up. We either get the volume from buyers or we keep on "reloading" until mid-next week when another push up can happen.
If the bears take charge, we will visit the support levels mentioned above.
Thanks a lot for reading...
Make sure to visit my other trades in the "Related ideas" section below... They are doing good at the moment.
Alan Masters here...
Namaste.
Previous analysis:
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