Earlier this morning, BTC has finally managed to break out of the strong resistance area after a day of consolidating around 34.5k.
Realistically, the next area of resistance would be the 36.5k resistance, which is based at the most recent local top. However, this area is relatively weak and a further push towards the green area of resistance is to be expected.
The green area of resistance is based at the second most recent touch of the blue resistance line and around the 40k resistance. This will be a major hurdle for Bitcoin to take. After 40k, 42k is the next major resistance.
Things are looking quite good for BTC at this moment. Let's hope we're going to get more bullish price action next week.
Happy trading!
Realistically, the next area of resistance would be the 36.5k resistance, which is based at the most recent local top. However, this area is relatively weak and a further push towards the green area of resistance is to be expected.
The green area of resistance is based at the second most recent touch of the blue resistance line and around the 40k resistance. This will be a major hurdle for Bitcoin to take. After 40k, 42k is the next major resistance.
Things are looking quite good for BTC at this moment. Let's hope we're going to get more bullish price action next week.
Happy trading!
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