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BTC analysis – if the price overcomes this resistance, BTC will increase by more than 10%

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BTC has more or less nowhere moved in the short term and continues to do so oscillation around $ 30,000. It thus keeps the level of the previous long-term low a year ago. Dominance of the main cryptocurrency in the meantime, it is still on a rising trend and is at 46.84% at the time of writing.

Let’s take a look at BTC bull setup. If the price can exceed the level $ 32,300 and closes the daylight close price above this level, so it is possible that the price of the main cryptocurrency will rise by more than 10%. Breakthrough resistance in addition, they must be accompanied by high volumes. This is not yet the case, but this scenario needs to be tracked with a potential target of up to $ 38,000.

Bitcoin and bull setupSource: TradingView

BTC can still fall sharply

Significantly, ATH’s BTC still achieves long-term declining lows and highs. The trend is therefore clear and we cannot yet identify its reversal. Even the last minimum was not a big reflection and the price continues only to the side of the last week. Therefore, there is another and probably also in the game final correction leg.

The final correction leg could find support at weekly MA200, which reaches a value of over $ 22,200 and is growing over time. A signal to this target would occur if the price failed in the current sideway structure and did not maintain support structures. In the short term, the price of BTC continues to move sideways.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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