Recently, Bitcoin has displayed a downward trend following its return to the daily resistance level. The ongoing bullish trend has completed four upward movements and is currently in its fifth wave. Should the price confirm a bullish breakout above this resistance, we can anticipate a continuation of the bullish rally towards the $35k mark. In order for this scenario to unfold, we require confirmation of the breakout, which may involve a slight pullback before the breakout or a clear and direct bullish move above the resistance within the next few days.
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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.