Bitcoin has been on an upwards slop, and crossed the long trading range, that lasted from April 2023 - Oct. 2023. The breakout was contributed with the long awaited ETF Approval. But who goes first? Blackrock or all ?. Eitherway it has contributed to increase interest. Bitcoin currently trading at $37.5 today.
TA shows an ascending pattern, and least resistance looks up for now, if it break the $38K, which it tried to during the week and failed. (Thanksgiving weekend) It could open up for a target of $50K. This would be another MAJOR RESISTANCE POINT, as it had a trading range of almost 200 days. This would be a small term bull case if it breaks the $38K Resistance.
However we have yet retest the support level of April to October 2023 range. of $31K. Therefore there can be some hesitant for the Price Action. Right now Bitcoin Price is at a stall, until something break up or down, which will give us our next target area.
TA shows an ascending pattern, and least resistance looks up for now, if it break the $38K, which it tried to during the week and failed. (Thanksgiving weekend) It could open up for a target of $50K. This would be another MAJOR RESISTANCE POINT, as it had a trading range of almost 200 days. This would be a small term bull case if it breaks the $38K Resistance.
However we have yet retest the support level of April to October 2023 range. of $31K. Therefore there can be some hesitant for the Price Action. Right now Bitcoin Price is at a stall, until something break up or down, which will give us our next target area.