BTC Holds On To $7000 Over Weekend

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BTC Holds On To $7000 Over Weekend

Posted on September 3rd, 2018 in Bitcoin News,Technical Analysis by Tom Whitbread

Bitcoin held onto recent gains that took the king of crypto over the $7k handle, gravitating towards the 0.236% Fib level.

The global crypto market cap is up, reaching $235 billion at time of writing, as Doge surged over the weekend on the back of the Dogetherum Demo being announced. Bitcoin also held above $7000, as buying volume increased before the long weekend for US labor day on Monday. 

Stochastics has remained overbought for the duration, staying well over 80 with little sign of abating. With price holding a close support with the Gann angle from previous swing low.

As the week begins we wait to see if another leg up can take prices above the nearest Fibonacci level and begin building for $8k if volume continues the next key level to watch will be $7300 acting as support.