Bitcoin, 11000.0 could be too strong
Going UP already?
BTCUSD broke the Trend Line Resistance once again, which is fairly considered a bullish sign. We saw fluctuations around the Trend Line Resistance that confirms it is important for the global picture. And the price is above this line again. But, the last breakthrough (at 02.28) stopped at the 11000.0 level, now we the price is at this level again. And to prove that this time the breakthrough will ignite something more significant than last time we will need to see a strong move above the 11000.0 resistance.
My opinion - lateral movement
Uncertainty, associated with G20 is still present. Hence, the fewer points for the big breakthrough or dive until the summit. Also, the Reverse Head And Shoulders scenario is still relevant, so we still have a Neckline resistance zone starting at the 12000.0 level.
All these factors are pushing too hard on the Bitcoin, so my opinion is lateral movement in the 10000.0 - 12000.0 in nearest term.
BTCUSD broke the Trend Line Resistance once again, which is fairly considered a bullish sign. We saw fluctuations around the Trend Line Resistance that confirms it is important for the global picture. And the price is above this line again. But, the last breakthrough (at 02.28) stopped at the 11000.0 level, now we the price is at this level again. And to prove that this time the breakthrough will ignite something more significant than last time we will need to see a strong move above the 11000.0 resistance.
My opinion - lateral movement
Uncertainty, associated with G20 is still present. Hence, the fewer points for the big breakthrough or dive until the summit. Also, the Reverse Head And Shoulders scenario is still relevant, so we still have a Neckline resistance zone starting at the 12000.0 level.
All these factors are pushing too hard on the Bitcoin, so my opinion is lateral movement in the 10000.0 - 12000.0 in nearest term.
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