The word of the day for Bitcoin is indecision. The past few weekly candles have closed within a few hundred dollars of $37,000 - the last two have also opened there. Both of the past two candles have made higher lows with long wicks down, showing that there is still buying demand in this area. That said, the doji candles show that neither side is winning - a clear signal there is no real reason to be trading in this area.
$38,000 remains the key area of resistance.
$38,000 remains the key area of resistance.
scott.melker@texaswestcapital.com