There is a movement in the upward direction on bitcoin prices, which was confirmed by the weekend demand gap. In addition, the demand side has broken the main line of the downtrend and now we are above the psychological level of 10,000 dollars for one bitcoin.

Picture 1. Technical analysis, bitcoin, D1.19.02.2018

Currently, the main scenario is the continuation of the move towards the north. Another target for buyers seems to be the resistance located in the price region of 11700. Its breaking may be the starting point to attack even the region of 12,600.

Picture 2. Technical analysis, bitcoin, H1,19.02.2018

It is worth paying attention to the level of 10,000 dollars, where there is a closure of the output gap and an upward trend line. In the case of a correction, this area may be ideal for connecting to a possible continuation of the trend.

Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.

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