This is a very tricky question to answer, but let's try to be hypothetical.
As no one knows where the next resistance is located ,as Bitcoin broke new all time high and the are no known previous resistance levels from the history.
Everyone can only assume where the next resistance is located, no matter how good analyst they are.
A first thing that we can assume as resistance points are of course Psychological resistance levels, such as $25.000, $26.000 and etc. If the buying volume will continue to increase, psychological levels could be even separated by $5.000 or $2.500 marks instead of $1.000 ones.
Another thing would a wave analysis, but considering there is a new all time high, I would not give them a large importance.
We can also look at history, when the ATH was broken and the price was breaking out for almost over 300 days and this breakout resulted in a 1586% increase from the ATH.
If we base the top of this breakout from the history, the price top should be located at $311.902!
That's a crazy price for one Bitcoin, but let's see what the future bring us.. Maybe in future it won't be so crazy at all..
So.. where is the next resistance?
I would say based on Psychological level, the first real resistance is located at $25.000, but I think that a clear break with a full daily candle of this level could easily push the price towards $30.000 per one Bitcoin.
Judging by the strong volume, I think we can count the resistance levels by a $5.000 differences.
Thanks for your time and good luck with your Crypto journey!
Cheers, Tibor.
As no one knows where the next resistance is located ,as Bitcoin broke new all time high and the are no known previous resistance levels from the history.
Everyone can only assume where the next resistance is located, no matter how good analyst they are.
A first thing that we can assume as resistance points are of course Psychological resistance levels, such as $25.000, $26.000 and etc. If the buying volume will continue to increase, psychological levels could be even separated by $5.000 or $2.500 marks instead of $1.000 ones.
Another thing would a wave analysis, but considering there is a new all time high, I would not give them a large importance.
We can also look at history, when the ATH was broken and the price was breaking out for almost over 300 days and this breakout resulted in a 1586% increase from the ATH.
If we base the top of this breakout from the history, the price top should be located at $311.902!
That's a crazy price for one Bitcoin, but let's see what the future bring us.. Maybe in future it won't be so crazy at all..
So.. where is the next resistance?
I would say based on Psychological level, the first real resistance is located at $25.000, but I think that a clear break with a full daily candle of this level could easily push the price towards $30.000 per one Bitcoin.
Judging by the strong volume, I think we can count the resistance levels by a $5.000 differences.
Thanks for your time and good luck with your Crypto journey!
Cheers, Tibor.
