Welcome back to another Bitcoin update. In the last weekend, we have seen some big fluctuation in the price but as we could see below, we still keep holding the critical level of 30k. And since today we have seen a big movement up what could result to face ones more the 40k resistance.
BTC has test ones more the green support zone in the last few days and it is back on a small resistance (~35k) right now. 2 scenarios:
1. We don’t break the 35k and will face the support zone (green) ones more.. Breaking this green zone results in falling to the next support zone (~24k).
2. We break the 35k resistance zone and we will be heading back to 40k resistance. Once we break that one we could see 48k!
In the 4H chart, it is much easier to see that we are at resistance right now.
Retrace is possible from this point but if we keep above the small green zone (~33k) we will make a Higher Low what could result in enough pressure to the upside to break the 35k resistance!
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