Hello everyone, this is a daily review from Liam Webb from CryptoTradingSchoolOnline specially for Neironix.
Bitcoin has risen back into the sell area this weekend. The rise indicates the short term momentum is building, but I think another decline, maybe to 11,0000, will take place before we see price break the area and resume the current uptrend.
At the time of this writing, the bitcoin course was equal to $11894 and the market capitalization was $211 billion.
So far we haven't seen any signs of a reversal — a couple of small red candles have formed, but these are likely to be a result of profit taking. The rise that pushed price back into the area was quite strong, which suggests we may see it drive deeper before reversing.
For now, keep an eye out for signs of a reversal inside the area. If large red candlesticks start to appear along with candles with big wicks on the end, it's highly likely the price is about to reverse and start falling back to $11,000. If price continues to rise and ends up breaking through the area, we'll probably see a small (or possibly big) decline begin near $13,000, being that's it close to this years high.