BTC is still in sideway movement ascending triangle and a slightly growing trend is approaching just to resistance of this pattern. This however, the growing trend is weakening and with it the volumes. Will we look at the new local maximum for the first time since ATH, or will the price continue in a formation that has lasted for more than 2 months?
Higher bullish we saw the volumes at point 1, 3 and March 16 at the last local minimum it tested support. However, volumes are not growing continuously and will only shoot up on exports and in the short term. We can also see in the current growth receding volumes which means the market may not have the power to break through resistance.
BTC aims at resistance
Sentiment can change from hour to hour, so it is necessary to wait for the price to behave in contact with resistance 46,000 $ and below. We could also argue over a symmetrical triangle, which would mean that the market price in on resistance. However, a $ 46,000 breakdown eliminates a greater risk than a $ 44,000 breakdown when we are not yet sure of ending the pattern.
In the long run, we remain bullish and short-term as well. even when it’s in the game final liquidation positions before real growth. Support we watch on the point of control $ 39,000 a resistance in the mentioned double peak zone $ 46,000. Until one trend is overcome, we will continue to move sideways.