Weekly & Daily Levels (Supply => Demand / Resistance => Support)
Basic technical analysis of support and resistance. Key levels to watch where supply has flipped to demand or in other words resistance has become support.
BTCUSD has chopped through the 7888 level over the last two weeks. Historically it is not a clean cut level which makes it difficult to call an entry although that is the nature of cryptocurrencies the enormous volatility.
Personal opinion is that it does look higher as each correction from this level is declining in size which suggests traders are looking to see if there is demand above 7888. A breach of 8500 would indicate higher highs from its corrective low.
BTCUSD has chopped through the 7888 level over the last two weeks. Historically it is not a clean cut level which makes it difficult to call an entry although that is the nature of cryptocurrencies the enormous volatility.
Personal opinion is that it does look higher as each correction from this level is declining in size which suggests traders are looking to see if there is demand above 7888. A breach of 8500 would indicate higher highs from its corrective low.