Bitcoin: What thresholds to monitor after the violent movements of the weekend?

The weekend turned out to be a bit lively for Bitcoin, which edged up Saturday to a record high of $ 6,254, before dropping sharply to $ 5,763 on Sunday afternoon.

However, the BTC / USD managed to cancel this fall in minutes on Sunday night, with a peak at $ 6250, and remains above $ 6100 Monday morning.

Weekends are often animated by strong movements for Bitcoin, whose quotation continues on Saturday and Sunday, with a reduced number of operators on the market, which amplifies the movements, and facilitates manipulation.

Moreover, no new information justifies these movements, which seem to have their origins in psychological and technical factors.

From a graphical point of view, the rise of Bitcoin above the psychological threshold of $ 6,000 is a positive signal.

However, this recent rally also confirmed the resistance of $ 6230- $ 6250, which had already blocked attempts to increase Friday and Saturday.

It is therefore the immediate resistance, above which we can identify other potential obstacles at $ 6,350, $ 6,500-$ 6,550, $ 6,680-$ 6,600, and $ 6,800.

On the downside, there are short-term supports at $ 6,100, $ 6,000, $ 5900- $ 5,330, and $ 5,760, before the low of November 12, 2017 at $ 5,426, and the major psychological threshold of $ 5,000.