The BTC bull was lulled last week on Fed monetary policy on accelerating Federal rate hike. The stronger US dollar forced BTC to consolidated below 792 before a swing over the weekend trading and lifted theprice to the region of 794. The BTCUSD price was hitting intraday high at $794.99. Beside US dollar resilient, trading volume are expected to be gradually stagnant on the light of coming holiday period. The sluggish trading could delay the Bitcoin bull-ish momentum. The next crucial support level are 781 and 777 zones. The current price is still steadily on touching the ceiling of the narrow ascending channel pattern formed from 710. A breakout will upgrade the price target into 820 band.
Importan Price Levels to Watch
S1 – 788
S2 – 781
S3 – 770
Long 790.5, setting stop lose and take profit ration of 1:4
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Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.