Bitcoin just printed above a big level as a strong bullish move kicks in

Bitcoin just printed about the consolidation high of 8,535.00.
There has also been a bullish technical signal on the RSI.

Rajan Dhall, MSTA FX Daily

Bitcoin is pushing to the upside today as sentiment vastly improves. The high print of the day currently stands at 8,570 and is still climbing.

The relative strength index indicator is showing a trendline break that could also indicate more bullishness is still to come.

Past this, the next resistance levels are at the psychological 9k level, 9,071 and 9,321.

Elsewhere, the price is now about the mean value area represented by the volume profile indicator on the right hand side of the chart.

The next mean value area of the distribution higher stands at around 10,115.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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