Bitcoin has been undergoing a slow and steady climb since the low on August 14, 2018. This has created a good base of support.
Now $7200 is within sight. This is a critical resistance level for BTC/USD. A sustained break above $7200 would completely change the longer term picture, and further gains would be quite likely.
The moving averages on the daily chart are bunched up, suggesting a longer term powerful move is near.
My feeling is that BTC/USD will overcome this resistance, perhaps in the next week or so.
$6600 is critical support, and failure here would be bearish.
Now $7200 is within sight. This is a critical resistance level for BTC/USD. A sustained break above $7200 would completely change the longer term picture, and further gains would be quite likely.
The moving averages on the daily chart are bunched up, suggesting a longer term powerful move is near.
My feeling is that BTC/USD will overcome this resistance, perhaps in the next week or so.
$6600 is critical support, and failure here would be bearish.