Around 20th October, Bitcoin made another attempt for a breakout.
It failed to pass our local resistance and got back to support.
The support I'm talking about happened in the 58K area. It is still the most vital support we have for now.
If we manage to stay above the second support as shown on the chart and close a 4H candle above it, there's a possibility that it turns into solid local support for us. That way, we can make sure that we can see some bullish moves in the short term.
Now on the way up, for now, we have two resistance zones. The first one is around the $63700 area, which is our local resistance. The second and the main one is around the $67200 area, which is also our ATH.
Right now, as you can check different platforms, Bitcoin is showing Buy Volumes. We have also passed the Middle Bollinger Band, which shows that it's wise not to open short positions for now.
Let me know your ideas.
Good luck.
It failed to pass our local resistance and got back to support.
The support I'm talking about happened in the 58K area. It is still the most vital support we have for now.
If we manage to stay above the second support as shown on the chart and close a 4H candle above it, there's a possibility that it turns into solid local support for us. That way, we can make sure that we can see some bullish moves in the short term.
Now on the way up, for now, we have two resistance zones. The first one is around the $63700 area, which is our local resistance. The second and the main one is around the $67200 area, which is also our ATH.
Right now, as you can check different platforms, Bitcoin is showing Buy Volumes. We have also passed the Middle Bollinger Band, which shows that it's wise not to open short positions for now.
Let me know your ideas.
Good luck.
