Greetings everyone
and forgive my absence for the last week. Sometimes life can be overwhelming and even if I did watch out for the markets, I was not able to write a proper analysis.
So, welcome to the new post-correction Technical Analysis. A long waited correction and I am extremely happy with this -14,4% fall right before December, as I was quite confident about the comeback.,
Bitcoin is trading (08:40 UTC) at $18434 with a 24-hour trading volume of $24.76 million and 61,36% market dominance.
There is an ascending channel pointing to the strong resistance level of $18,800. A level that has been tested ten days ago, before the hit of $19,350. If this resistance level holds, there is a support level in the channel - its bottom line - that points at $18,500 and a very strong support level at $18,290. Both of them will retest the resistance level and eventually will break over $19,000.
MACD and RSI indicators are bullish enough to support this uptrend momentum.
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