BTC - Tell me what is next ? Breakout OR Rejection ?

2024年3月2日

#BTC/USDT #Analysis
Description
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+ As depicted in the chart, BTC is currently at a crucial juncture, trading near the all-time high (ATH) range on the monthly chart.
+ This pivotal moment will determine Bitcoin's trajectory, as a breakout could propel it to new ATH levels, aligning with expectations and historical Bitcoin halving cycles.
+ In the event of a rejection, the next support level is anticipated around the 47K range. However, the possibility of a breach below this support, leading to a target of 30K, seems less likely.
+ Personally, I maintain an optimistic outlook on a price breakout. I anticipate Bitcoin to consolidate near the ATH range, paving the way for a smooth ascent once the ATH barrier is breached.
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Best Regards,
VectorAlgo

2024年3月7日

註釋

Price is consolidating in the resistance range