A third consecutive weekly close above our $34,000 key support, signaling the market has an extremely low intention of heading below on the weekly.
Every single attempt to break and close below the $34,000 level on the weekly has failed and now it looks like the bulls are taking some control.
The probable now from our current situation is a move up to the next long-term resistance level, $41,000 from where we might see the $51,000 level before reaching All-Time High again.
This move will likely take at least 3-4 weeks if we are to head up there straight from our current range.
On the other hand, another break below $34,000 would likely penetrate this already weakened level into a low.
Stay Safe!...imRedaSouhail.
Every single attempt to break and close below the $34,000 level on the weekly has failed and now it looks like the bulls are taking some control.
The probable now from our current situation is a move up to the next long-term resistance level, $41,000 from where we might see the $51,000 level before reaching All-Time High again.
This move will likely take at least 3-4 weeks if we are to head up there straight from our current range.
On the other hand, another break below $34,000 would likely penetrate this already weakened level into a low.
Stay Safe!...imRedaSouhail.
iSmashProfit
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