BTC: Approaching Resistance
Bitcoin (BTC) technical analysis:
Trade setup: Trends are mixed. Price bounced off of
25K support and reached 28K resistance, which is also 200-day moving average. We wait for price to either 1) break above that resistance (28K), which could signal uptrend resumption, with upside to 30K, or 2) pull back near 25K support for another swing entry.
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is25K, then 21.5K. The nearest Resistance Zone is 28K, then 30K, and 32K.
Trade setup: Trends are mixed. Price bounced off of
25K support and reached 28K resistance, which is also 200-day moving average. We wait for price to either 1) break above that resistance (28K), which could signal uptrend resumption, with upside to 30K, or 2) pull back near 25K support for another swing entry.Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is
25K, then 21.5K. The nearest Resistance Zone is 28K, then 30K, and 32K.
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