BTC analysis – price breaks important resistance, momentum is clearly bullish so far1 min read
BTC is still just below the previous long-term high, and the question arises as to whether it will be able to overcome this maximum. Bull volumes they speak clearly and therefore may happen soon a break in the trend and the price confirms its reversal. Let’s take a look at bullish scenario which needs to be monitored for the coming days.
The trend is clear bullish and this sentiment will continue in the near future. Of course, there may be a short-term stagnation of growth at $ 46,000 resistance but the most bear stop I expect on $ 41,000 which represents a long – term significant level and, in addition, the previous one resistance.
These are the most significant price levels close to market price:
- Supports: $ 41,000, $ 37,000
- Resistances: $ 46,000, $ 47,500
BTC must create a definitive confirmation
If we want to maintain momentum, the price must clearly create a higher local minimum, which is likely to happen. The moment the price breaks $ 46,000, it reaches higher local maximum, the trend will change and the correction will definitely be terminated. If the price fails, the sideway continues.
If the price exceeds $ 46,000, way to the level of $ 50,000 should be accompanied by high volatility. In the short term, they continue bull volumes and a growing trend. In the long run, the price needs to be confirmed by breaking point 2 and confirming the reverse 123 formation.