BTC analysis – will the price attack the new ATH after rebounding from MA21?
2 min readBTC immediately after a short-term decline and testing of support on MA21 rises up again. It seems to exceed the last maximum. This would mean that there is little left to overcome the ATH price. Will the price succeed at the next move? Resistance no longer plays an important role and is not even here. However, this does not mean that the price will beat ATH on the first try.
BTC tested MA21 at the last minimum and closed the candle close price above support. The market price is currently at the level of $ 61,875 at the time of writing, thus approaching the previous maximum, which it is likely to exceed. The latest growth could thus overcome BTC’s ATH, thus entering the price discovery zone.
BTC / USD 4H. Source: TradingView
What if BTC doesn’t beat ATH on the first try?
On the other hand, there is also a scenario in the game where BTC fails to reach the new ATH on the first attempt. The volumes are constantly decreasing, the market is on the verge of overbought. There are signs of overheating of the trend, but it is not in extreme values. Therefore, it is questionable whether the ATH trend will overcome immediately or not.
If the price could not overcome the ATH immediately, then the price would probably go to the sideway movement for a few days, respectively. slight correction. At the end of the day, however BTC overcame ATH one way or another. The next supports still remain at $ 59,000 and $ 54,800.
