Expectations are finally over, and Bitcoin breaks the bearish channel ceiling by 5%. The volume of transactions is still close to the average of the last 30 days, which can be an acceptable number. Bitcoin is now out of the downtrend. But note that there is resistance for bitcoin in the range of 51 to 53 thousand dollars, which if bitcoin can not pass, the trend will not continue.
Of course, the trend in daily time is still upward. But at lower times it is necessary to break the resistance with force upwards. Because this is the weekly resistance range and a very important pivot point to keep moving.
Given the strong bullish candle you see on the chart, we expect the $ 50,000 level to be definitely broken. So now this range has become supportive, and if the price goes back down, we can expect this level to be maintained and prevent further price falls. An uptrend line has also been drawn on the chart and until Do not break this line, you can expect the resistance in the range of 51 to 53 thousand dollars to be broken. It remains to be seen whether this level will be maintained again at the end of the week, and whether price growth will continue.
The price is now in an uptrend channel, and in the one-hour timeframe it is up trending. Two purple areas are marked on the chart, which could be the areas where the price may collide with the support or resistance ahead. If the price continues to rise, the price could rise to $ 53,000 and break the uptrend channel ceiling. Or the price will enter the correction phase in this time frame and return to the range of $ 50,000 at the bottom of the bullish channel. Given that the strength of bullish candlesticks has been high in the range of $ 50,000, we expect $ 50,000 to continue to be valid as support, and keep the price in the range of $ 51,000 to $ 53,000 for a while. Given that we are in the last days of the week, the bitcoin trend in these areas can be painful.
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Of course, the trend in daily time is still upward. But at lower times it is necessary to break the resistance with force upwards. Because this is the weekly resistance range and a very important pivot point to keep moving.
Given the strong bullish candle you see on the chart, we expect the $ 50,000 level to be definitely broken. So now this range has become supportive, and if the price goes back down, we can expect this level to be maintained and prevent further price falls. An uptrend line has also been drawn on the chart and until Do not break this line, you can expect the resistance in the range of 51 to 53 thousand dollars to be broken. It remains to be seen whether this level will be maintained again at the end of the week, and whether price growth will continue.
The price is now in an uptrend channel, and in the one-hour timeframe it is up trending. Two purple areas are marked on the chart, which could be the areas where the price may collide with the support or resistance ahead. If the price continues to rise, the price could rise to $ 53,000 and break the uptrend channel ceiling. Or the price will enter the correction phase in this time frame and return to the range of $ 50,000 at the bottom of the bullish channel. Given that the strength of bullish candlesticks has been high in the range of $ 50,000, we expect $ 50,000 to continue to be valid as support, and keep the price in the range of $ 51,000 to $ 53,000 for a while. Given that we are in the last days of the week, the bitcoin trend in these areas can be painful.
ZOOMARZ.COM