this is a weekly update on bitcoin.
In the last review we said that the price broke the downtrend and is likely to continue to grow, but possible tests of supports at the levels of 67 and 65 thousand, and cancel the whole Long scenario is at going below 60 thousand.
But the upward movement did not accelerate, in fact we had a false breakdown, and that we will go to test the supports wrote in the updates to the weekly post. As you know the negativity in the market was related to the political situation in the middle east.
At the moment technically the instrument tested 60k on the squeeze, the drop was about 15% but even more altcoins suffered the most. From 60 thousand included a buyer, perhaps we will once again see a test of support at the levels of 63 or 60 thousand, the key zone at the moment resistance is at 67-68 thousand from where the fall began, in fact, a symmetrical triangle has been transformed into a rectangular consolidation where the price will spend some time. Always DYOR.
Stay tuned.
