🔥 Bitcoin Re-testing Support Before Take-off

Recently I made an analysis on Bitcoin where I stated that the bulls needed to prove something quickly before BTC would fall all the way back to the capitulation lows around $26k.


Since making that post, the bulls came out in force and forced the price above the prior indicated horizontal consolidation area. Naturally, this is very bullish.

As it looks now, I think we're due a minor bearish correction where we'll reach inside the top support area before taking off again. The 4H RSI is severely overbought still, so I think it's only healthy to see some bearish price action.

First major area of resistance is going to be around $32.5k, see blue line.