Bitcoin has been range-bound since it broke into the $11,000 price zone at the beginning of the week. A look at the longer-term charts, however, paints a more bullish picture, especially if BTC can hold onto gains it has made this week.
Bitcoin Price Battles to Stay Above $12,000
Monday’s Asia initiated thousand dollar surge topped out over $12k. BTC returned to $12,000 price level twice more in the following days but failed to hold there. Over the course of the past week, the highs have got lower but there have been no lower lows indicating a tightening of this range.
Trader and analyst, Josh Rager, has been taking a step back to look at the bigger picture. Regardless of this week’s consolidation, the weekly view looks extremely bullish and bitcoin could close its highest candle of the year.
“If $BTC can hold on for three more days. Price has the chance to close its highest on the weekly chart in 2019”
If $BTC can hold on for three more days
Price has the chance to close its highest on the weekly chart in 2019 pic.twitter.com/YNTXaoDOou
— Josh Rager <img src="https://s.w.org/images/core/emoji/12.0.0-1/72×72/1f4c8.png" alt="