We've seen bitcoin range for a while in the 20k levels. Right now we broke the resistance of the upwards channel. For their to be strength for bitcoin to rally to 30k, we would need to see bitcoin retest it's previous resistance around 24,491 for their to be enough strength to see a move to it's previous resistance of 30k. If bitcoin tries to retest the 24,491 support and we break through it, we would most likely see a retesting double top and then things will get very ugly.
This is the week that we will see the price action of bitcoin either confirm a rally or confirm another massive drop.
Stay safe and be smart traders,
- Innovum Crypto
Comment:
(Correction "if bitcoin tries to retest the previous resistance around 22,491" "If bitcoin tries to retest the 22,491 support")