Bitcoin -> Wait For The Breakout

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.

On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was turned resistance at the $30.000 level.
You can also see that weekly market structure and moving averages are still overall bullish, I am definitely waiting for a weekly retest of the next support zone at the $24.000 level and then I do expect more continuation towards the upside from there.

On the daily timeframe you can see that Bitcoin has been trading in a range for quite some time with support at the $26.000 area and resistance at the 27.400 area so I am now just waiting for a breakout towards the upside before I then do expect another daily bullish rally.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset: