BTC analysis – the price increased by 15% in 4 days! Where is the next target?1 min read
BTC has already grown in value 15% in just over 4 days. But at the same time there are growing indicators that signal that the trend is overheating. Although the local maximum is still approaching, the corrections are healthy in the context of growing trends and this is not the case in the current case. So where is the nearest target?
Volumes in the current growth are also declining, which also indicates an approaching local maximum. However, this is not the only indicator.
BTC grew by 15% in 4 days
In the short term, the trend is likely to continue, but the RSI indicates overheating in the overbought phase. That means soon creates a local maximum, or short-term stagnation. Nevertheless, we saw it recently bull signal when the price exceeded the previous local maximum at $ 43,500.
Breaking the previous maximum is definitive confirmation of the growing trend and ending the correction. The two most basic resistance zones are around $ 47,000 and around $ 57,000. Whether BTC will continue the long-term sideway is questionable, but the flat structure is likely to be broken.