Cryptheory: Crypto and Internet

cryptocurrency, internet and AI meaning, guides, learning

BTC analysis – price breaks important resistance, momentum is clearly bullish so far

1 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 analysis - price breaks important resistance, momentum is clearly bullish so farWill BTC create a growing maximum? Source: TradingView

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.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *