BTC has broken out of it's low volatility down channel with high buy volume. You can see a bull pennant printing with likely continuation to $7400-7500.
$7500 has been a supply zone for BTC in the recent pass with multiple failed attempts at breaking resistance.
I will be watching the 7.5k area closely and adjusting my strategy based on BTC's reaction to the zone. If BTC breaks through 7500 with volume, 7633 is next resistance. Any sharp rejections here will be short indications.
BTC has a lot of overhead resistance here with the overall moderate bearish sentiment and momentum. However, halving is coming up which traders predict will be overall bullish.
$7500 has been a supply zone for BTC in the recent pass with multiple failed attempts at breaking resistance.
I will be watching the 7.5k area closely and adjusting my strategy based on BTC's reaction to the zone. If BTC breaks through 7500 with volume, 7633 is next resistance. Any sharp rejections here will be short indications.
BTC has a lot of overhead resistance here with the overall moderate bearish sentiment and momentum. However, halving is coming up which traders predict will be overall bullish.