Bitcoin [
BTC] has been on a tear in Q1 rising 70% in the first three months of the year. Price is now approaching two major resistances near 30k. The horizontal resistance and there is the diagonal from April 2021...two years ago.
I expect BTC to tag 30k before correcting down to the 25k range break. Price action there will determine whether this is a bull market or a bear market rally.
BTC] has been on a tear in Q1 rising 70% in the first three months of the year. Price is now approaching two major resistances near 30k. The horizontal resistance and there is the diagonal from April 2021...two years ago. I expect BTC to tag 30k before correcting down to the 25k range break. Price action there will determine whether this is a bull market or a bear market rally.
Note
Big moment right at both resistances. My only concern is the volume on this overnight pump. Very low volume move. Not necessarily indicative of a failed rally but I'm wary of a bull trap.Note
The moment of truth is upon us.
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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.