Bitcoin passed the highest range in its trading history!

Yesterday, Bitcoin passed the highest range in its trading history. Yesterday's Bitcoin candlestick remained unchanged, forming a full-range candlestick with a small body and long shadows, and the price of Bitcoin is below the resistance range of $19,300 to $19,445. If this level becomes support again, we can expect Bitcoin to grow in the short term. But if a negative reaction accompanies the resistance, there is a possibility that the price will fall towards lower supports. Due to the formation of a higher ceiling and floor, price growth is possible. On the other hand, the price remaining near the main medium-term support of Bitcoin has increased the probability of failure. So, until a strong sustained movement is observed in the 4-hour time frame, trades can be very short-term with small profit limits and small loss limits.

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Bitcoin maintained its range trend on the previous day, and this range trend, considering that the resistance of the range of $19,300 to $19,400 was again associated with a negative reaction, marked the decline of the price of Bitcoin to the support range of $18,934. This level is the minor support considered from the past, as long as the support floor holds even to the $18,600 range, there is a possibility of a short-term upside for Bitcoin.

Given the positive reaction to this minor support, and the fact that the price is still within the ascending channel, there is still hope for Bitcoin growth. But if the bottom of the short-term ascending channel is broken, heavy selling pressure can be formed in the whole market, and the possibility of breaking the support zone of $18,388 to $18,530 will increase. For the price of Bitcoin to grow to the targets of the previous ceilings, Bitcoin must first return above the $19,500 range. If this resistance is broken again, we can expect price growth.