Not much have changed from our previous analysis just two days ago: “For the past 10 days Bitcoin’s range is between $6000 – $6600 (except little glitches below).”
During the past 48 hours the $6600 tough resistance level had been tested one more time, and a quick regression down to $6300.
Over the past 4 days the range has become tighter – $6300 – $6600. Strong support around $6300 area (along with Moving Average 50 days – purple line), strong resistance around $6600. A break will likely lead to re-test $6800 and $7200 (Moving Average 200 days) Bitcoin levels.
Typically to weekends, the trading volume is relatively low – not much happening. It will be interesting to see what the heavy whales are preparing us for the new upcoming week.
Bitcoin Prices: BTC/USD BitFinex 4 Hours chart
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.