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BTC analysis – will we end the two-month accumulation zone?

2 min read

BTC according to last analysis managed to keep at the point of control $ 36,770. Subsequently, it found support here and continues to grow. However, most altcoins are like this growth did not occur and the result is therefore a growing trend of dominance of the main cryptocurrency. On the other hand, it is positive news in the long run, because BTC has always been the first in earnings when the trend changes to a growing one.

BTC is trading at $ 40,300 at the time of writing and is testing the resistance zone for the second time in a short time. The first resistance is actually at the level of $ 41,000. Another area of ​​resistance is at the level of $ 43,500, where there is resistance from local maximum from ATH.

BTC / USD 4H.  Source: TradingView
BTC / USD 4H. Source: TradingView

Will BTC end the two-month structure?

So far, we do not know whether the price will be able to overcome this resistance, but one thing is certain. If the price respects $ 43,500, then the trend has not changed in the long run and the price will still respect the resistance from ATH. On the contrary, already at the break-up of $ 41,000, we can talk about the end of the sideway structure, which has been current for two months.

On the volume side, the growing trend continues for the time being, but if the maximum is lower than the previous one with further growth, it is quite possible that we will not overcome the resistance on the first try. In addition, although the RSI is in the overbought phase, it is significantly lower than the last local maximum after cooling. In the short term, therefore, there is still room for growth.

Disclaimer: This article is for information purposes only and should not be construed as investment advice.

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