Bitcoin moving sideways
tradingview.com/x/agW3HzMk/
This week's two ascending trendlines (1,2) and a bigger volume (compared to the previous weeks) suggest increasing buying pressure for Bitcoin. Today the trendline (2) was broken and a dip started. For the next week I expect gradual comeback to the 36k support, and possibly a breakout attempt above the long term trendline (3) started in November. But bulls are still not convincing, they will need more power to break that resistance, and any bad news can accelerate selling.
This week's two ascending trendlines (1,2) and a bigger volume (compared to the previous weeks) suggest increasing buying pressure for Bitcoin. Today the trendline (2) was broken and a dip started. For the next week I expect gradual comeback to the 36k support, and possibly a breakout attempt above the long term trendline (3) started in November. But bulls are still not convincing, they will need more power to break that resistance, and any bad news can accelerate selling.
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