Technical analysis Bitcoin BTC/USD - 18.02.2018
The capitalization of the entire cryptocurrency market continues to grow and reaches just under 500 billion USD. The Bitcoin domination increased during the week by over 2 percentage points. The BTC price has already reached 11000 USD, although over the last 24 hours, the entire top ten cryptocurrencies have been declining.
From a technical point of view, we chose the upside down wedge we wrote about a week ago.
Unfortunately, there was no 9500 USD support test without giving us the opportunity to take a long position.
The price has already reached almost the upper limit of the inheritance channel, which was also mentioned last week. From here, there should be a correction reaching the support of 9500 USD. If the bulls are so strong that they will knock up the top channel with the restriction of the inheritance channel, then a good place to buy will be a support test 12000 USD from above.
Bitcoin has still a major resistance to break. If it does so then it is possible it can test alltime highs.