BTCUSD may rise more if it breaks above 10600$
Publish Date : 2019/08/19 - 07:59

BTCUSD may rise more if it breaks above 10600$


Bitcoin price analysis

We have seen bitcoin broke below 10000$ level thoughout last week.then it kept decreaseing down to 9500$.the price has recently rebounded from this area.besides it was able to break above 10200$ and 100 periods moving average.

However,the price will face important obstacles around 10500$ and 10600$.

The price has attempted many times to break above the resistance area before but failed to do so.


Bearish outlook:

There is a support area around 10200$ and 10250$.besides we can see the trendline and support line crossover at 10250$.

If the price breaks below 10200$,then more decline down to 1000$ is anticipated.


Bullish outlook:

In this outlook we can see resistance area around 10500$ and 10600$.thus,if the price break reasonably above 10500$ and 10600$.then more increase up to 10800$ or 11000$ is anticipated.

Source:Newsbtc


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