BITCOIN SUPPORT AND REGISTANCE

Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately $96300 points. The volume balance is negative and weakens the currency in the short term. The short term momentum of the currency is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Bitcoin.