Bitcoin MARKET UPDATE
Bitcoin support levels - 16,500$ and 16,850$ strong Support
Bitcoin resistance - 17600$ and 18100$ strong resistance
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Analysis -
Bitcoin forming a Rising Wedge which is Bearish pattern. Bitcoin price settled above the $17,000 resistance zone and able to clear the $17,100 and $17,200 resistance levels.
The price even spiked above $17,400 and traded close to the $17,500 resistance zone.
However, the bears were active near the $17,500 resistance zone. A high was formed near $17,440.
Bitcoin support levels - 16,500$ and 16,850$ strong Support
Bitcoin resistance - 17600$ and 18100$ strong resistance
———————————————————————
Analysis -
Bitcoin forming a Rising Wedge which is Bearish pattern. Bitcoin price settled above the $17,000 resistance zone and able to clear the $17,100 and $17,200 resistance levels.
The price even spiked above $17,400 and traded close to the $17,500 resistance zone.
However, the bears were active near the $17,500 resistance zone. A high was formed near $17,440.