Bitcoin Looking Like a Happy Camper - Rest Before the Next Big Move?
After a great day yesterday Bitcoin is pushing another green candle up closer to the $12,000 USD mark!
Despite yesterdays big move (up about $500.00 USD) Bitcoin looks happy to just camp out here for now. It's teetered up to $11,900 today and currently is back down at $11,715. The $12K temporary ceiling is set and Bitcoin may just rest a few days before testing it.
On the charts, we're seeing a similar story. The new level to test is around $12K, Bitcoin is still working it's way up to it and is expected to test it again very soon.
The 10 Day Moving Average line has waned ever so slightly, but it's not enough to go on yet. With the 50 Day MA the gap is continuing to grow but maybe at a slower pace. Resting...
The current price action is still in the upper band of the Bollinger bands and the bottom band is beginning to come up. This is good, as it is setting a reversal or drop to be a higher low.
Keep watching the charts! 📈
Please note : this is opinion and should not be taken as financial advice.