#BTC/USD
BTCUSD
After yesterday's FUD dump exactly to 34000$ as we mentioned it for a possible cheap buy area in our last analysis on 20 MAY, #Bitcoin bounced up again and now still fighting with major resistance area between 38842~42000 levels.
Firstly, We really need to break all of these resistances and go above 42000$ fast and consolidate there to can think about any possible rise for BTC or not, the possibility of more dump will increase as much as we stay below this level especially in case of breaking down the 34000$ level.
Secondly, The most powerful and important resistance area for BTC is between 45640~48000$ (Crucial Bull Support area) which needs to break for more rise chance.
And, Finally, We need to break up the higher Trend-line of this descending channel to confirm the Bull Run continuation.
Technically, we remain negative at the 1D frame with nice bounces from the 34000$ area. On a 4-hour time frame, the indicators are neutral-negative but we can see a bullish divergence too.
BTCUSD
After yesterday's FUD dump exactly to 34000$ as we mentioned it for a possible cheap buy area in our last analysis on 20 MAY, #Bitcoin bounced up again and now still fighting with major resistance area between 38842~42000 levels.
Firstly, We really need to break all of these resistances and go above 42000$ fast and consolidate there to can think about any possible rise for BTC or not, the possibility of more dump will increase as much as we stay below this level especially in case of breaking down the 34000$ level.
Secondly, The most powerful and important resistance area for BTC is between 45640~48000$ (Crucial Bull Support area) which needs to break for more rise chance.
And, Finally, We need to break up the higher Trend-line of this descending channel to confirm the Bull Run continuation.
Technically, we remain negative at the 1D frame with nice bounces from the 34000$ area. On a 4-hour time frame, the indicators are neutral-negative but we can see a bullish divergence too.