Bitcoin has been rally since jan to presently, rising a staggering 118% from lows. Are we about to witness a massive bull run in the coming weeks?
Well, we have a major roadblock uphead. Price Between
36K
-40k is major resistance and until Btc breaks this zone we are still in a bearish scenario on monthly and weekly time frame.
A failure to break and close above this zone means certain devastation for Bitcoin, with the first lower targets being $20k.
We also could not rule out the possibility of Bitcoin could further tumble down to lows of 12-8k, which is the optimum buying zone. We have marked the levels in red for max Btc buying, should the price drop to these levels.
We are now in very interesting times and at a pivotal movement for Bitcoin. Time will tell and all will be revealed soon.
Well, we have a major roadblock uphead. Price Between
36K
-40k is major resistance and until Btc breaks this zone we are still in a bearish scenario on monthly and weekly time frame. A failure to break and close above this zone means certain devastation for Bitcoin, with the first lower targets being $20k.
We also could not rule out the possibility of Bitcoin could further tumble down to lows of 12-8k, which is the optimum buying zone. We have marked the levels in red for max Btc buying, should the price drop to these levels.
We are now in very interesting times and at a pivotal movement for Bitcoin. Time will tell and all will be revealed soon.