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2020-04-25 13:58

Eyes On The Market

As you can see on the daily chart and predictions in previous analysis, Bitcoin squeeze up to $7,700 exploited the small volume gap on the VPVR from $7,160 to $7,743 dead on and the next challenge can be found at the 61.8% Fibonacci retracement where the 100 and 200-day moving averages reside. 

The Bollinger Band moving average is also smack dab on the 100-MA so its expected that flipping $8,000 to support will be a challenge. Even if the price pushes above $8,000, the VPVR shows $8,500 as another level of resistance but one would hope that by the time this level is reached $8,000 and $7,500 will be ready to provide support.