BTC's price continues to sit above the trendline (in dotted lines) and so long this holds, there is no reason to believe the price will fall much lower than $34k.
As such, the first big test for BTC is to move above $45k. So far it seems the price is not very keen to go higher, but this can quickly change if we have a breakout.
Volume was good yesterday, but lower than for example ETH (see my idea below), so BTC appears a bit weaker here.
While the daily timeframe remains bullish looking at the indicators, the lower timeframes such as 4-hours show loss of momentum, but nothing to be too concerned about as long the uptrend holds.
Before the end of this week, BTC should make a decision if it breaks the current resistance or it falls back on the key support.
Also, see my other ideas on the market below (linked) for additional context.
Like and follow if you liked my idea!
As such, the first big test for BTC is to move above $45k. So far it seems the price is not very keen to go higher, but this can quickly change if we have a breakout.
Volume was good yesterday, but lower than for example ETH (see my idea below), so BTC appears a bit weaker here.
While the daily timeframe remains bullish looking at the indicators, the lower timeframes such as 4-hours show loss of momentum, but nothing to be too concerned about as long the uptrend holds.
Before the end of this week, BTC should make a decision if it breaks the current resistance or it falls back on the key support.
Also, see my other ideas on the market below (linked) for additional context.
Like and follow if you liked my idea!
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