BTC/USD - Weekly Resistance & Support To Be Tested
Bitcoin / U.S. dollarBitstamp
Description
⋅ Bitcoin (BTC) has been consolidating between $8500 and $9900 since May 2020.
On a weekly chart, two-year long Trendline Resistance and Support lines have been holding, with three major touchpoints each.
Downside Breakdown Targets (Support): $8500, $7000, $5000, $3000.
Upside Breakout Targets (Resistance): $10000, $12000, $16000, $19000.
Large Volume is needed to confirm a true sustainable breakout or breakdown.