Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin (BTC) After the uptrend, bitcoin reached the crucial $30K resistance level and failed to sustain above. However, after a short-term correction phase that resulted in a 14% drop, bitcoin found support at the 50-day EMA at $27.3K.
This has prompted another uptrend, which provides a positive signal for the overall outlook of the cryptocurrency, indicating that the bulls are in control. However, BTC is currently facing an important and decisive resistance level at the $30K price area and it is attempting to break out of it.
If successful, it could start a strong bullish rally towards the $40K price channel. On the other hand, if the price fails to overcome this crucial level, a double-top pattern will form, potentially leading to another bearish leg.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you.
CHART ANALYSIS:- Bitcoin (BTC) After the uptrend, bitcoin reached the crucial $30K resistance level and failed to sustain above. However, after a short-term correction phase that resulted in a 14% drop, bitcoin found support at the 50-day EMA at $27.3K.
This has prompted another uptrend, which provides a positive signal for the overall outlook of the cryptocurrency, indicating that the bulls are in control. However, BTC is currently facing an important and decisive resistance level at the $30K price area and it is attempting to break out of it.
If successful, it could start a strong bullish rally towards the $40K price channel. On the other hand, if the price fails to overcome this crucial level, a double-top pattern will form, potentially leading to another bearish leg.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you.
