#Bitcoin wavy in a Breakout Pattern, BTC Limit at $21k
Past Performance of Bitcoin
Bitcoin is bullish, but prices are wavy, reading from the formation in the daily chart. Overall, the coin is within a bullish breakout formation. This forecast and expectation of even more gains in the days ahead is because prices are trending above the $20k and $20.5k support zone, above the previous BB Squeeze. As it is, traders can load the dips above support limits, expecting more gains in the short term.
#Bitcoin Technical Analysis
Bitcoin prices remain in range and stuck within last week's trade zone. Traders have failed to clearly define the short-term trend though the coin is bottoming up. Notably, there are clear lower lows versus the upper BB in the daily chart. Traders can buy the coin above $20k, targeting September 2022 highs at $23k in the next few days, especially if there are sharp gains above last week's highs at $21k. However, if there are retracements deeper below $20k, this preview will be valid, and BTC may drop to $18.5k in a retest. On the other hand, a sharp bull bar above $23k will be reassuring, even reinvigorating traders and drawing buyers.
What to Expect from #BTC?
Traders are hopeful of more gains. Even so, the failure of buyers to push above $23k points to weakness. Technically, BTC bulls remain in a bullish breakout formation and within the shadows of last week's confident traders.
Resistance level to watch out for: $21k
Support level to watch out for: $20k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin is bullish, but prices are wavy, reading from the formation in the daily chart. Overall, the coin is within a bullish breakout formation. This forecast and expectation of even more gains in the days ahead is because prices are trending above the $20k and $20.5k support zone, above the previous BB Squeeze. As it is, traders can load the dips above support limits, expecting more gains in the short term.
#Bitcoin Technical Analysis
Bitcoin prices remain in range and stuck within last week's trade zone. Traders have failed to clearly define the short-term trend though the coin is bottoming up. Notably, there are clear lower lows versus the upper BB in the daily chart. Traders can buy the coin above $20k, targeting September 2022 highs at $23k in the next few days, especially if there are sharp gains above last week's highs at $21k. However, if there are retracements deeper below $20k, this preview will be valid, and BTC may drop to $18.5k in a retest. On the other hand, a sharp bull bar above $23k will be reassuring, even reinvigorating traders and drawing buyers.
What to Expect from #BTC?
Traders are hopeful of more gains. Even so, the failure of buyers to push above $23k points to weakness. Technically, BTC bulls remain in a bullish breakout formation and within the shadows of last week's confident traders.
Resistance level to watch out for: $21k
Support level to watch out for: $20k
Disclaimer: Opinions expressed are not investment advice. Do your research.
