BITCOIN; Is It Ready To Breakout Of The Range Yet ?
Yes, we all know how BTC gained 15% in only a few hours by the amazon news/rumor (still unclear) reclaiming the 50-Day EMA but and this one is a big BUT, it has yet to face the weekly resistance of $40k - $42k zone which has been rejecting it since past two months and is acting as STRONG RESISTANCE zone.
Now if we look at RSI on Daily time-frame, we can get the idea of how it is at a critical level from where if it breaks to the upside we may witness the breakout of this range-bound or consolidation zone of past 68 days which will definitely continue the bull-run to 100k that everyone has been wishing since the start of this bull-run, by the end of this year. However, failure to breakout from this zone (40k-42k) will more likely lead to price get back in the range-bound (sideways zone).
So, we have to lookout for this zone to break which then can be considered "THE BULLISH MOVE" for bitcoin and will offer next leg to the upside, hence continuing the BULL-RUN.
CryptoCuriousOfficial 📥
Now if we look at RSI on Daily time-frame, we can get the idea of how it is at a critical level from where if it breaks to the upside we may witness the breakout of this range-bound or consolidation zone of past 68 days which will definitely continue the bull-run to 100k that everyone has been wishing since the start of this bull-run, by the end of this year. However, failure to breakout from this zone (40k-42k) will more likely lead to price get back in the range-bound (sideways zone).
So, we have to lookout for this zone to break which then can be considered "THE BULLISH MOVE" for bitcoin and will offer next leg to the upside, hence continuing the BULL-RUN.
CryptoCuriousOfficial 📥
Comment:
It got rejected from the Resistance zone
