BTC Forecast: Breaking above $46000 will push higher

BTC could not manage its near-term and trendline resistance level of the $46000 price zone for several days. Several times BTC price tested its trendline resistance.

But the market already broke and stabilized its strong trendline resistance a few days ago. So, technically it is supposed to up. It is just a matter of time after breaking above $46000 BTC will go up.

Breaking above $46000, our first target to the upside is $52000, the next target is $59000, and the final target to the upside is $68500.

On the other hand, as long as BTC is above its strong trendline support, it won't change its uptrend. But in case it drops, BTC may test first of all its near-term support level of $39300 and strong support level of $30000. But it will be tough to test $30000 very soon without complicated causes.

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We have updated our gold chart and analysis ahead of CPI (Inflation Report)