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BTC analysis – the price is rising again and with it the bullish volumes

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BTC found again in the short term growing minimum and the price rises above $ 40,000. But more importantly, the recent growth is accompanied by bullish volumes which have risen sharply. Nevertheless, the structure in which the price has been in place for two months has not been broken and is still going on.

Last time, the chart recorded such high bullish volumes at point 3. Throughout the sideway structure, the chart reached this increase exactly when the price found a local minimum. In the short term, however, the price would have to exceed resistance $ 46,000 if we want to think about ending the current structure.Bitcoin bull volumes

BTC bullish volumes. Source: TradingView

BTC remains bullish

The ascending triangle should be closed by a bull leg. However, this is not always the case. In addition, it is possible to form a flat from the triangle, where the price again tests the support around points 3 and 1. But for now we remain bullish both short-term and long-term. In the long run, we know that the price is close to the absolute bottom.

Whether the price has bottomed out or we’re going to look back at $ 30,000 doesn’t really have to affect our strategy. Just aggressively buy everything under $ 30,000. Current fluctuations may only be of interest to daily traders.

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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