#Bitcoin at 2023 Highs, will BTC hold above $30k?
Past Performance of Bitcoin
Bitcoin remains in an uptrend despite liquidity shrinking over the weekend. From the daily chart, the path of least resistance is definite and northwards. Even though there are hints of weakness, bulls may look to buy above the 29.8k and 30k area, searching for entries for a retest of 31.3k or better in future sessions.
#Bitcoin Technical Analysis
Bitcoin is trading at around 2023 highs following sharp gains from June 20 to 23 at the back of expanding volumes, as visible in the daily chart. Subsequently, traders can continue looking for entries on dips, aligning with the primary trend established last week. Notably, the coin is within a bullish breakout formation, syncing with March to April gains. The anchor remains at the base of June 2023 lows at around 24.8k. Meanwhile, any retest of 30k or even 28.3k could be areas of loading if there is a retracement from last week's peaks. The immediate target is at 31.3k, later 32.5k, and 35k if bulls press on.
What to Expect from #BTC?
Traders are optimistic and fundamental factors could pump the coin to new highs. Even so, for now, the rejection of higher highs over the weekend could translate to retracements. Immediate support levels remain 29.8k and 28.3k on the lower end. Any expansion above last week's high could trigger more demand, pushing BTC to 2023 highs.
Resistance level to watch: 31.3k
Support level to watch: 29.8k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin remains in an uptrend despite liquidity shrinking over the weekend. From the daily chart, the path of least resistance is definite and northwards. Even though there are hints of weakness, bulls may look to buy above the 29.8k and 30k area, searching for entries for a retest of 31.3k or better in future sessions.
#Bitcoin Technical Analysis
Bitcoin is trading at around 2023 highs following sharp gains from June 20 to 23 at the back of expanding volumes, as visible in the daily chart. Subsequently, traders can continue looking for entries on dips, aligning with the primary trend established last week. Notably, the coin is within a bullish breakout formation, syncing with March to April gains. The anchor remains at the base of June 2023 lows at around 24.8k. Meanwhile, any retest of 30k or even 28.3k could be areas of loading if there is a retracement from last week's peaks. The immediate target is at 31.3k, later 32.5k, and 35k if bulls press on.
What to Expect from #BTC?
Traders are optimistic and fundamental factors could pump the coin to new highs. Even so, for now, the rejection of higher highs over the weekend could translate to retracements. Immediate support levels remain 29.8k and 28.3k on the lower end. Any expansion above last week's high could trigger more demand, pushing BTC to 2023 highs.
Resistance level to watch: 31.3k
Support level to watch: 29.8k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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