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  • Bitcoin is trading 0.25% higher on Friday after a good week.
  • The key level to keep an eye on is 10,500 if the price can manage to get there.

BTC/USD Daily Chart

Bitcoin has had a great week moving 5% higher, building on last weeks 8.48% move.

Now if the price continues to move higher then 10,500 looks like a strong level based on past price action.

Beyond that just over 12K looks pretty strong too. 

After the 50 day SMA and trendline were broken, it seems the bullishness has been strong.

The price made some nice higher lows and higher highs, but the concern is the RSI divergence forming.

This is when the price makes higher highs and the indicator makes lower highs. Sometimes this can indicate momentum is wearing thin,

Away from this point, the buy-side volume still looks good and that is a more important factor. 

It is obviously quite possible that we can get retracements along the way but the 9,095 area would need to hold to keep the trend pattern going.

 

Bitcoin Analysis

Additonal Levels