BTC $11,185 Support level where will it go from here?

11 juil. 2019

Dear traders, it appears bitcoin has broken the right shoulder within the inverse head and shoulders pattern that occurred when viewing it from a 1 hr time frame. At first bitcoin broke bullish from its trough on the right shoulder from $10,750 before rising to $13,200. At the $13,200 price level bitcoin was met with some serious resistance sending it down before bouncing at the $11,185 price level it now sits in a very narrow ascending wedge which could indicate a further price fall with bitcoin. However it's also worth noting that the MACD shows that bitcoin is expected to rally as the lines look to be returning from the death cross to a golden cross, this could indicate a bullish movement. For now its worth watching bitcoin to see which move it makes now. It is worth noting that currently according to Blockchainwhispers 68.5% of traders have long positions between BitMEX and Bitfinex whilst only 31.5% of positions are short positions. I'm not a financial adviser please don't base any investments off what I've mentioned here and do your own research prior to taking any position within any market.