BTC was rejected by the upper boundary and was pushed down to 36K area, which was before resistance and now acts as support. To maintain the bullish momentum, BTC bulls need to defend this support zone. Another significant support zone comes from the BPRO, the BVWAP and the baseline acts here also as support, which is now around 35K. The next support level sits around 32.2k.
The resistance levels I’m watching are around 39.3K, which also is in line with the 21 weekly EMA. And the upper boundary of this range, which is around 40k - 41k. If BTC breaks out from this range then I consider 43.1K and 47.7k as the first resistance level.
The resistance levels I’m watching are around 39.3K, which also is in line with the 21 weekly EMA. And the upper boundary of this range, which is around 40k - 41k. If BTC breaks out from this range then I consider 43.1K and 47.7k as the first resistance level.