Bitcoin attempting to break over a significant long-term level
They say price has memory and when it comes to Bitcoin there's few levels more significant then this 30,000 to 32,000 zone. There has been a lot of volume that has traded hands in this area going back to the start of 2021 and that's why it's an important inflection level to watch as buyers make another attempt to break above it.
If we can get consecutive multiple days closing over 32K we should see buyers get a lot more comfortable adding risk in Bitcoin and aiming for much higher targets in the coming months.
(disclosure: long)
If we can get consecutive multiple days closing over 32K we should see buyers get a lot more comfortable adding risk in Bitcoin and aiming for much higher targets in the coming months.
(disclosure: long)
Evan Medeiros
Founder, Trade Risk
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Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
Founder, Trade Risk
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Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
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