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BTC analysis – the price has still not reached the growing maximum since ATH, will there be a break?

2 min read

BTC is still relatively high above the recently broken resistance but it is still not precisely determined whether it is in the sideway structure or confirmed growing trend. The price has not yet managed to overcome the resistance of the previous maximum and the situation is still true from ATH the price did not reach a growing local maximum.

It is necessary to overcome previous maximum $ 46,000 to confirm the reversal of the trend. This maximum is located in the long-term resistance zone, which is limited by prices roughly $ 45,000 and $ 49,000. It is therefore likely that it will be in this zone that growth will stop for some time and the price will meet resistance.

Bitcoin still has not reached a growing maximumBTC still has not reached a growing maximum. Source: TradingView

BTC still has not reached a growing maximum

In fact, the market price can create a local maximum already at the current value, which is also confirmed by the RSI, which is falling from the overbought phase back to the neutral zone. On the other hand, it is likely that this maximum will be included growing trend. In other words, the price may not exceed the previous maximum on the first try.

The most important thing is to keep the previous minimum of $ 33,000. In the short term, however, the price does not indicate that it should attack this band. However, the previous resistance can be tested as a support at a level of approx $ 41,000 and from this level, the price could rise again if it really did find it here support.

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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