BTC/USD - Weekly Overview
The past week for BTC was of strong consolidation and diminishing volume. The price level constantly tested the resistance level at the 0.236 FIB level.
The RSI level has again formulated a rising channel pattern on the chart. However, the impact on the BTC price was minimal as compared to the rise in the RSI level
The MACD level is still attempting to cross above the histogram. Overall, BTC is facing significant resistance at 17K and 18K thereafter. On the support side, 16K and 15K are the levels to watch out for.
The RSI level has again formulated a rising channel pattern on the chart. However, the impact on the BTC price was minimal as compared to the rise in the RSI level
The MACD level is still attempting to cross above the histogram. Overall, BTC is facing significant resistance at 17K and 18K thereafter. On the support side, 16K and 15K are the levels to watch out for.
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