BTC is on fire today. The RSI is heading towards overbought levels though so we will definitely see some downward or at a minimum sideways action in the near future.
The main support levels are outlined in the chart. Right now the best bet would be to expect the price to go back and retest the 32k support for the next weeks, consolidating before a further move upwards breaking out of the ascending triangle at 34k.
It is also worth noting this pattern could be broken downwards instead which would be very bad news. Expect a big downtrend to ensue if that is the case probably retracing back to 16k lows.
The main support levels are outlined in the chart. Right now the best bet would be to expect the price to go back and retest the 32k support for the next weeks, consolidating before a further move upwards breaking out of the ascending triangle at 34k.
It is also worth noting this pattern could be broken downwards instead which would be very bad news. Expect a big downtrend to ensue if that is the case probably retracing back to 16k lows.
Trade closed: target reached:
as expected, we hit the resistance at 34k and we are now slowly coming down towards 32k. next days are crucial to understand longterm where we are headed. closed the short position by hitting the take profit.