Bitcoin grew very well yesterday and penetrated its weekly resistance with a strong upward candle with an increase of 11.40%. Currently the price is stopped in the range of 41,500. This range can be expected to continue bitcoin's volatility until it definitely becomes supportive. So we need to close at least 2-3 candles daily above the $ 41,544 level. Otherwise, because we are still in a downtrend, there is a possibility of a return of the price inside the downtrend channel.
As you can see during this period, the descending channel roof, although broken, but the subsequent candlesticks have not shown any confirmation of the failure of the channel ceiling and the weekly resistance so far, and the impact on this resistance has not been accompanied by high volume. Therefore, one of the signs of resistance failure or support is high trading volume. But so far this has not been the case. Therefore, in order for the resistance to continue to fail, we need a high trading volume in the range of 41,500 to $ 42,000.
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As you can see during this period, the descending channel roof, although broken, but the subsequent candlesticks have not shown any confirmation of the failure of the channel ceiling and the weekly resistance so far, and the impact on this resistance has not been accompanied by high volume. Therefore, one of the signs of resistance failure or support is high trading volume. But so far this has not been the case. Therefore, in order for the resistance to continue to fail, we need a high trading volume in the range of 41,500 to $ 42,000.
ZOOMARZ.COM