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After a short – term decline, BTC bounced at a higher low and the price began to rise again. In terms of technical analysis, thanks to rising lows and highs the trend did not change even in the short term. In the meantime, the dominance stagnates at around 43.50% at the time of writing. Let’s see if the price of BTC is already heading for the new ATH.
BTC created last locally minimum exactly to the previous resistance from local highs and confirmed with a bull signal the end of the decline. From this low, the price began to rise again and heading for the new ATH. Resistance that stands in the way of the price is at a short double peak of $ 68,800.
BTC is still bullish
On the other hand, it is still there support at point of control 61 214 $. This support zone is based on the previous slightly declining structure, which can also be defined as a sideway structure. This structure will provide support in the future if the price is corrected.
Volumes still remain low, even though the price is trying exceed your maximum. Therefore, the scenario is still in play that if the price continues sideways, as BTC gradually gains strength and beats ATH a little later. However, it is still true that both scenarios are bullish in the long run and ATH is likely to overcome the trend.