Bullish Bitcoin approaches some resistance

As we have recently seen turn bullish, it appears to be approaching a small level of resistance.

I have drawn out 2 levels of resistance/support in the pink boxes

What I am expecting to happen is for price to struggle to break the 1st box, then find support on top of the box. From here I expect price to consolidate between the 2 pink boxes before it moves on. I expect to remain bullish for the overall view

I have drawn 2 sets of lines once entering between the 2 pink boxes. These are 2 possible scenarios as I'm not sure what will happen once breaks past the 1st pink box

has recently broken past the 200 EMA on the Daily chart resulting in a strong bullish push. I do not expect anything to hinder this push except for some small levels of correction in the market as it breathes.

This trade is for educational purposes only, and not a recommendation to take this trade based on my charting. I hope you get something out of this analysis :)

Note

If you are in this trade, be aware of the level of resistance we are approaching.

I have mapped out the areas (Shown in Yellow Circles) of resistance in the past.

This could be a small pull back, or an actual trend reversal.

Make sure to have SL set incase price decides to go bearish.

I only expect price to reach 38% Fib line or 50% Fib line at most *fingers crossed*

Note

Price has broken past the 14 EMA on its pullback

I still only expect price to reach the 38% Fib (Shown above circled in green), or the 50% Fib line (Shown above with a red rectangle)

I would expect price to bounce off of one of these fibs & continue on its way bullish

theyoungbloodcollective

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theyoungbloodcollective