BTC/USDT Technical analysis on the 12 hour timeframe:
Bitcoin currently tests a minor resistance in the area of 78K that price has repeatedly been rejected from in recent sessions. It maintains a bullish structure of higher highs and higher lows.
The previous resistance that is acting as support at the 75K level, is seen to have been previously held which means price can confidently push above.
This consolidation below a resistance at the present is bullish, not bearish.
Bullish scenario: Should price close convincingly above the 78K-79K resistance area, a continuation to higher levels should be expected.
Bearish scenario: In the event of rejection at the current level, price could fall back to the 75K support region, where an aggressive buyers push is expected again.
With that said, buyers currently have the upper hand with the support intact, and it appears a buildup for the next leg higher.
DYOR, NFA
Bitcoin currently tests a minor resistance in the area of 78K that price has repeatedly been rejected from in recent sessions. It maintains a bullish structure of higher highs and higher lows.
The previous resistance that is acting as support at the 75K level, is seen to have been previously held which means price can confidently push above.
This consolidation below a resistance at the present is bullish, not bearish.
Bullish scenario: Should price close convincingly above the 78K-79K resistance area, a continuation to higher levels should be expected.
Bearish scenario: In the event of rejection at the current level, price could fall back to the 75K support region, where an aggressive buyers push is expected again.
With that said, buyers currently have the upper hand with the support intact, and it appears a buildup for the next leg higher.
DYOR, NFA
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Daily Free Signals :bit.ly/UnichartzAlpha
Register on Bitunix and trade with me: 👇
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.