Bitcoin held support at the lower line of the uptrend channel(orange) which was also where horizontal support rested(dashed blue) which added extra support on the recent dip back below $10k. With support now tested and holding, as well as price back above $10k, we can assume that the trend is going to remain bullish.
Immediate short-term resistance is at the red dashed line near $10.5k, but the main target I'm watching and expecting price to reach remains up near $11k, highlighted in yellow. Short-term trend remains bullish, a break above $11k will likely lead to a more intermediate bull trend and push back up near $14k over the next few weeks.
With the recent dip and lower channel test a new stop-loss level has been created shown with the solid blue line. Stop-loss level has now been moved up from just below $9k to $9.4k. As long as price remains above $9.4k the short-term trend will remain bullish.
Immediate short-term resistance is at the red dashed line near $10.5k, but the main target I'm watching and expecting price to reach remains up near $11k, highlighted in yellow. Short-term trend remains bullish, a break above $11k will likely lead to a more intermediate bull trend and push back up near $14k over the next few weeks.
With the recent dip and lower channel test a new stop-loss level has been created shown with the solid blue line. Stop-loss level has now been moved up from just below $9k to $9.4k. As long as price remains above $9.4k the short-term trend will remain bullish.