- Bitcoin futures reject 8k for the fifth time and just moved to positive territory for the session.
- There is a resistance zone above price at the moment at 8,273 and also a trendline resistance.
On the hourly chart below, it seems that the Bitcoin bulls are not ready to let go of 8k just yet.
This is now the fifth time that 8k has been defended by the bulls and the next resistance point on the way up stands at 8,273.0.
Above that, there is a trendline that could slow down any momentum that originates at the top of the consolidation point.
The volume profile indicator is showing price at mean value levels at the moment. This is the point where the most amount of traders exchanged contracts at what price.
The relative strength index (RSI) indicator has just pushed higher and moves past the 50 mid line. It has not reached the overbought zone so there could be some more room for another leg higher.
Beyond this, the top of the consolidation is at 8,815 and a break of this could confirm a change in trend to the upside.
Share
