In our last analysis, we wrote to you that Bitcoin doesn't have enough strength to beat $ 60K, but after 7 days it looks completely different.
Although it is debatable what was the trigger this time, one of the events of the last week could still have affected this increase the most.
The event is nothing more than Bloomberg's April report, in which analysts estimate that BTC could reach $ 400K later this year based on the market cycle.
This report flew around the world on April 8, and Bitcoin has been growing consistently since that day.
But what does it look like from the point of view of technical analysis?
Not so much has changed in TA, because we are still in our reverse zone, which is in the $ 58,200 to $ 62,000 range. But this time, it is highly likely that Bitcoin may be able to leave this zone upwards, which would open up new opportunities for bulls.
If the BTC beat $ 62K and stayed above that level, it would be a strong bullish sign.
More knowledge from technical analysis
New confirmed support at $ 50K
Next support in the area of $ 42K – $ 43K
Key support in the area of $ 28K – $ 30K
The $ 58,200 to $ 62,000 range is a confirmed reversal zone
Although it is debatable what was the trigger this time, one of the events of the last week could still have affected this increase the most.
The event is nothing more than Bloomberg's April report, in which analysts estimate that BTC could reach $ 400K later this year based on the market cycle.
This report flew around the world on April 8, and Bitcoin has been growing consistently since that day.
But what does it look like from the point of view of technical analysis?
Not so much has changed in TA, because we are still in our reverse zone, which is in the $ 58,200 to $ 62,000 range. But this time, it is highly likely that Bitcoin may be able to leave this zone upwards, which would open up new opportunities for bulls.
If the BTC beat $ 62K and stayed above that level, it would be a strong bullish sign.
More knowledge from technical analysis
New confirmed support at $ 50K
Next support in the area of $ 42K – $ 43K
Key support in the area of $ 28K – $ 30K
The $ 58,200 to $ 62,000 range is a confirmed reversal zone
Comment:
Check my original analysis here: ccnews24.net/bitcoin...ing-for-the-new-ath/
