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BTC analysis – the question is not whether, but when the price will exceed ATH

2 min read

BTC has continued its upward trend over the last 24 hours, reaching a maximum of $ 62,940. The price thus enters the last zone of resistance. So either we go to new ATH immediately, or the price will stop for a while at ATH and will stagnate before the breakthrough. However, in the short term, the market is starting to overheat and therefore the breakthrough of ATH may not be immediate.

BTC has found support since the last MA21 contact and does not stop growing. In 16 days the price has risen by 53% without any correction structure. The zone around $ 63,000 is the last zone of resistance where the price can stop before the ATH breaks. However, this resistance does not represent strong resistance.

BTC analysis - the question is not whether, but when the price will exceed ATHBTC / USD 4H. Source: TradingView

BTC is heading for a new ATH

The volume indicator also started to grow on the charts. They are still growing steadily, which is also a bullish signal. On the other hand, however RSI indicates the overbought phase. However, this does not mean that the trend will not continue in the short term. But RSI tells us that the local maximum is approaching. Therefore, it is in the area around the ATH that it can stop, stagnate and subsequently break down.

However, overcoming ATH can occur immediately without stopping. But that would be the market entering the overheated phase and sooner or later it would correction leg occurred. So the question is not whether, but when the price will overcome the last ATH and go to the price discovery zone and the zone without any resistance.

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