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Bitcoin August, 10 2020
Overview:
The above chart shows that the pair is approaching a strong resistance level represented at the upper boundary of the ascending price channel, which enhances the downside chances during the upcoming period.
Expected:
Continuing trading below the upper boundary of the bullish channel, in addition to 12036, may push the pair down to 11500
Alternative Scenario:
On the other hand, we think that if the level of 12036 was broken to the upside, this pair might push up to 12500
| Resistance | 12036 | 12200 | 12500 |
| Support | 11500 | 11250 | 11100 |
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
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