The price has broken above the resistance of the descending trendline and the weekly 100 and 200 EMAs. It may attempt to retest the $100 level before the upcoming halving event in August. The price is in a highly overbought zone, which could result in a correction to test support levels. The nearest significant resistance levels are the weekly 100 and 200 SMAs.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.