BTC resumes the long-term trend, resistance at 73.7K!!
- Following a two-week period characterized by intensive selling by retail investors and strategic accumulation by large holders and financial institutions, Bitcoin has resumed its long-term upward trend.
- The flagship cryptocurrency closed the week with a candle surpassing the 66.9K threshold, corresponding to 78.6% of the Fibonacci level, paving the way for investors to seek new records in the BTC/USDT pair.
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- Observation of the daily chart reveals a sequence of three ascending candles, accompanied by an increase in transaction volume, exceeding the levels recorded over the weekend.
- With the approach of the Easter holidays, which will shorten the trading week in traditional markets until Wednesday, a potential surge by BTC/USDT investors is anticipated to challenge the 73.7K level, marking a new all-time high (ATH).
- This scenario could intensify if liquidations occur on the part of sellers, boosting the volume and allowing the price to explore unprecedented territories in its history.
THIS IS NOT INVESTMENT ADVICE NOR SHOULD IT BE TAKEN AS SUCH. EACH PERSON IS RESPONSIBLE FOR THEIR ACTIONS AS A TRADER, INVESTOR, ETC…