In the bitcoin market, we witnessed two unsuccessful attempts to shoot down bitcoin below $ 11K last week.
For the last seven days, it looked like a swing on a bitcoin, but in the end the bulls turned it in their favor. In the last analysis, we noted that investors are accumulating bitcoins before another move to $ 12K, and it looks like this phase still persists. This is mainly confirmed by the fact that the bulls defended 2 attempts to reverse the price and did not allow it to go lower than $ 11,117 (binance).
The support in the area of $ 11K has thus been confirmed on the market, and currently the price is already rising towards $ 12K area.
Technical analysis:
- Current support at $ 11K
- 2x support confirmation for $ 11K
- Major resistance at $ 12K
- MACD neutral
- RSI approaches the area overbought on hourly time frames, 1D is neutral
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