Bear trend line broken.
Bullish MACD, RSI launching off 50.
$5000 big psychological area
Resistance expected at $5500. This is where large volume came in during the breakdown from the long descending triangle in November.
Next we have about a $100 range above/below $6000 from major resistance(previous support). $5900-$6100
After that it's looking like resistance at $6500, $7500, $8500, and maybe $9500. If it pushes past $9000 we will probably see some resistance somewhere around $10K.
Further, major resistance at ~$12K and beyond that it was quite volatile and a new run in that territory could mean anything.
Overall, with the strong volume in the last day or so, it is looking nice and bullish. ~$4500 and $3000 still key support levels to hold.
God speed trading!
Bullish MACD, RSI launching off 50.
$5000 big psychological area
Resistance expected at $5500. This is where large volume came in during the breakdown from the long descending triangle in November.
Next we have about a $100 range above/below $6000 from major resistance(previous support). $5900-$6100
After that it's looking like resistance at $6500, $7500, $8500, and maybe $9500. If it pushes past $9000 we will probably see some resistance somewhere around $10K.
Further, major resistance at ~$12K and beyond that it was quite volatile and a new run in that territory could mean anything.
Overall, with the strong volume in the last day or so, it is looking nice and bullish. ~$4500 and $3000 still key support levels to hold.
God speed trading!
Next 10k then 12k