$BTC Breakout Again and Testing Resistance + Trade Setup
Bitcoin is breaking out again from our downward sloping trendline on the daily timeframe. It will most likely be testing again the resistance at $39k.
-If we are able to break this resistance zone to the upside, above $40k and are finding support there, I will be very bullish. In the chart are my bullish price targets for a potential long position.
-Another rejection, and I will be bearish expecting the price to find support again at the weekly parallel channel around $35k. If we get a close below, our next support will be $30k where I will be expecting a lot of buy orders coming in.
-If we are able to break this resistance zone to the upside, above $40k and are finding support there, I will be very bullish. In the chart are my bullish price targets for a potential long position.
-Another rejection, and I will be bearish expecting the price to find support again at the weekly parallel channel around $35k. If we get a close below, our next support will be $30k where I will be expecting a lot of buy orders coming in.