From the technical analysis I see on the chart of forex brokers that provide trading cryptocurrencies with leverage below.
On Sunday bitcoin has touched the highest price of 7,560 usd, and the price closed on Sunday 7,340 usd.
The resistant price points a few days ago are already in break out.
This is a sign of bitcoin prices will look for a new higher resistent.
On Monday the price of the lowest bitcoin was 6.950 usd, and closed at 7,106 usd.
It's just a little price consolidation to find new momentum. price consolidation range is around 600 usd in 2 days.
Because of the trust of many people in bitcoin, they keep the price of the slightest difference on the consolidation.
In Bollinger bands indicator that I have custom in the chart below, has touched the bottom area of Bollinger bands with candlestick engulfing buy on H1 chart.
This is a sign the market has touched the new support and did not break out at the price.
For short term market will look for higher Bollinger bands and newest resistant higher. The price will probably move up to 7,600 usd. And it is possible to go beyond the top again.
Here's an opportunity to buy bitcoin now for the short term.
Good luck for small investments, and hopefully my analysis can help to make the right decision.
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