Bitcoin Rallies to Resistance - Will it Fail?
Bitcoin has had a slow and rather quiet move higher over the past few days. That is until today where volume has picked up in the past few hours and price pushed more than 600 points.
11,600 has been a pivot point before
Looking at the chart you can see price has come up to this level in the 11,600 area. With price now getting a but extended from the 10 day moving average and volume being somewhat low for this move on a whole it would not be a surprise if the up move died in this area.
However, if that were to happen then some sideways to slightly lower consolidation would be bullish.
To be honest as long as it maintained above 10,800 while the moving average caught up I'd be happy with the price action.
We shall see what the coming days will bring....
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I am more excited about waking up to the Litecoin halvening and seeing it over $100. Looking for a specific reason with all the news today but will not complain!
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Yeah, I bought more LTC at 93 last night totally forgetting about the halving so sold half a couple points higher but a SL at breakeven and went to bed. Nice to see it higher.
Also, looking at the LTCBTC chart has got me wanting to flip it all. LTC testing the last bottom against BTC and a bounce is due.
I wouldn't be surprised if this is a lower high, and then it goes down a bit before the final move back up.