As mentioned yesterday, Bitcoin broke through the resistance level and rallied towards the previous high. It is now consolidating near today’s peak, showing some volatility.
From a technical perspective, the lower boundary of the 4-hour ascending channel—or the EMA20—suggests that bulls remain in control, with any pullback likely serving as consolidation before further upside. A decisive break above the prior high could trigger an acceleration in upward momentum.
Those holding positions should remain cautious of potential profit-taking amid this elevated consolidation, particularly around key weekly resistance zones.
In Summary
- Short-term strategy: Maintain a bullish bias on pullbacks as long as support holds, but consider taking partial profits near the previous high.
From a technical perspective, the lower boundary of the 4-hour ascending channel—or the EMA20—suggests that bulls remain in control, with any pullback likely serving as consolidation before further upside. A decisive break above the prior high could trigger an acceleration in upward momentum.
Those holding positions should remain cautious of potential profit-taking amid this elevated consolidation, particularly around key weekly resistance zones.
In Summary
- Short-term strategy: Maintain a bullish bias on pullbacks as long as support holds, but consider taking partial profits near the previous high.
There is no code for getting rich overnight in the market; there is only the logic of getting rich gradually t.me/passbiubiu
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.
There is no code for getting rich overnight in the market; there is only the logic of getting rich gradually t.me/passbiubiu
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.