10.14 Bitcoin continues to break through! Is the surge not far away?
The current price of Bitcoin is around 64,000. In the two days of the weekend, Bitcoin has reached around 63,400. However, we can see that Bitcoin has not been able to break through the resistance position near 63,400 in the two days of the weekend. Three attempts to break through were unsuccessful, and then it started to pull back.
The price has pulled back to around 62,000. After reaching here, the price immediately rebounded, but before the close of this morning, the price did not show an obvious breakthrough trend. Until around 11 o'clock this morning, the price suddenly soared and directly broke through 64,000.
Then we observe from the four-hour level. This wave of sudden price surge directly came to the previous high point, that is, around 64,400 that could not be broken before. The current price is slightly adjusted downward because it is actually encountering new resistance here.
So can the current upper resistance be broken?
I think we need to continue to observe from the daily level. First, let's look at the Bollinger Bands. When the daily line closed on the 12th, it can be determined that the price has broken through the middle track of the daily Bollinger Bands, because it is obvious that the daily closing price is above the middle track of the Bollinger Bands.
But the price later adjusted on the 13th, but after closing the 13th daily K-line this morning, it can be found that this is actually a bullish signal K-line. Although this is a Yin line, it has a very long lower shadow, which is a very standard bullish hammer line in the textbook.
Then today's daily line also continued to rise, but it has not closed yet. Of course, this is not important, because from the Bollinger Bands, since the price has broken through the middle track, we can directly see that the price can rise to the upper track, and the current position near 64400 is not the upper track position.
The upper track position of the Bollinger Bands daily line should reach above 66,000, so I currently think that this 64400 area should be able to break through with a high probability!
