Bitcoin seems to have enough momentum to test new peaks in the area around $ 6400!

Bitcoin price moves in a rising channel and seems ready to test new peaks. The upper limit of about 6400 dollars is the level at which Bitcoin is aiming, and where the market will encounter the most resistance to continue the rise.

In case of a drop, the lower limit of the $ 5800 channel appears as a support level below which the price is not expected to fall. Still, the technical indicators show that there is still a momentum gained by buyers, but as it approaches the $ 6400 level, it diminishes, and soon the market will enter the overbought area.

Upon reaching the upper limit of the channel, many players are expected to realize their profit from the purchase of Bitcoin at lower values.

The analysis is for informational purposes only and does not constitute advice, recommendation or offer to buy or sell Bitcoin, or any other cryptocurrenice or financial instrument. @suggeelson is not responsible for any losses after the use of the current analysis. Invest wisely and only amounts that you can afford to lose.

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