BTC Near the precipice! Does it rise or fall?

As you can see in the chart, a heavy resistance area (in the purple box) has blocked the way for Bitcoin to advance.

This heavy barrier has caused even the last collision of the price with the trend line to have a shorter throw than the previous two peaks (almost half of the growth rate in the past - in % ) and this can be examined from both directions.

It can also be noted that the long-term presence of prices in this area prepares minds to accept higher prices. ( A Bullish Run to 65K )

It is also possible that due to the weakening of the trend, the expectation of a further correction and a re-fall to the price levels of 49K $ and 50K $ is ahead.

However, as long as the price is above this uptrend, we expect more uptrend, and the behavior of traders in the market indicates that bitcoin will be thrown from its current location to higher targets.

In order to understand the issue faster, in 1H time frame, look for a change in the price trend relative to the uptrend trend line and trade in the same direction.

Don't Go Against The Trend Even if you are in loss.