Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

BTC analysis – price enters the resistance zone. Will a local maximum be created?

1 min read

BTC got into the first major resistance zone, which could mean that the upward volatility of the main cryptocurrency will stop in the coming days. Meanwhile, dominance BTC – as still in the beginning of a growing trend – is rising. Let’s see where the potential levels are resistance and support.

The price has stopped at resistance in the short term double top $ 45,200. However, this is only a short-term stop. Nevertheless, we can identify a strong resistance zone around the zone $ 45,000 to $ 49,000. It is one of the two basic resistant bands of BTC.

Bitcoin has encountered a resistance zoneBTC has entered a resistance zone. Source: TradingView

BTC enters the resistance zone

The second resistance zone is around $ 57,000 and we may not be so interested. So there is a short-term declining leg in the game. The closest the support zone is around $ 40,000. However, this support is long-term, despite the fact that the price recently surpassed it.

Volumes are still on the side of the bulls and BTC looks bullish. In the short term, however, it may form local maximum. Every healthy growth must be accompanied by corrections. Only time will tell whether the long-term maximum will be formed now or even higher. However, the trend has not changed yet.

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Your email address will not be published.