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BTC analysis – price growth does not end, but volumes are still missing

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BTC increased slightly overnight, but volumes are still lacking to confirm stronger growth. So the trend is losing strength and traded just below the resistance zone. The question remains whether the volumes will increase and the price will succeed resistance overcome or not.

BTC continues to grow leg and market price faces MA21 as resistance. Additional resistance is found on the surface double top at $ 46,500. The growing leg even begins to resemble a growing wedge, during which the volume decreases. A similar wedge was created after reaching ATH. However, there is still room for growth, but the zone of $ 46,500 to $ 49,000 seems to be resistance that will stop the price for a short time.

BTC / USD 4H.  Source: TradingView
BTC / USD 4H. Source: TradingView

The growth of BTC does not end, but it weakens sharply

The nearest support is at $ 43,500 which, however, is short – lived. However, if the price does not fall below it, we can create the final growing leg of a potential growing wedge. If, on the other hand, BTC does not maintain support, then the bear target is a level between $ 40,000 and $ 41,000. In this zone there is a previous resistance of the storage two-month structure and also a previous resistance from the maximum from ATH.

However, the growing trend has not yet been completed and continues. However, many indicators in addition to volume predict a short correction. RSI also achieves a negative divergence and is on a declining trend. The nearest bullish target is around $ 48,000.

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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