Can Bitcoin Break A Key Level And Run To New All Time Highs?
Can Bitcoin Break A Key Level And Run To New All Time Highs?
Over the last few days BTCUSD has completed a GIGANTIC Bullish Flag Pattern On The 4hr Chart marking completion of a massive correction after the new all time highs of around $40,000 set in the beginning of January
You can clearly see a fast break of the bullish flag and run up to $38,000 area, with an almost faster rejection back to $32k area
Now most recently in the last week we can see a strong trend back up to the key resistance level of $38,000...
The big question is:
Can it break this key level and run to new all time highs?
Or
Will It Reject And Wipe Out All The Buyers?
Normally trading solely off of support and resistance I would say no, it should reject one more time and continue to accumulate before it distributes again,
However with the current hype and flock of new traffic coming into the crypto world my bias is towards it blowing passed the new all time highs and forming even new highs on the way to $100,000!
These are exciting times for BTC and we will know within the next 24 hours if its going to continue this current bull run, or going to wipe out all the new investors :(
Watch for BTCUSD To break the resistance levels (highlighted in orange) because if it does, were on our way to all new heights 🚀 !!
Thanks for reading, Happy Trading 📈
Over the last few days BTCUSD has completed a GIGANTIC Bullish Flag Pattern On The 4hr Chart marking completion of a massive correction after the new all time highs of around $40,000 set in the beginning of January
You can clearly see a fast break of the bullish flag and run up to $38,000 area, with an almost faster rejection back to $32k area
Now most recently in the last week we can see a strong trend back up to the key resistance level of $38,000...
The big question is:
Can it break this key level and run to new all time highs?
Or
Will It Reject And Wipe Out All The Buyers?
Normally trading solely off of support and resistance I would say no, it should reject one more time and continue to accumulate before it distributes again,
However with the current hype and flock of new traffic coming into the crypto world my bias is towards it blowing passed the new all time highs and forming even new highs on the way to $100,000!
These are exciting times for BTC and we will know within the next 24 hours if its going to continue this current bull run, or going to wipe out all the new investors :(
Watch for BTCUSD To break the resistance levels (highlighted in orange) because if it does, were on our way to all new heights 🚀 !!
Thanks for reading, Happy Trading 📈