Bitcoin might continue going up important levels to watch
The price of Bitcoin has been pumping after the successful retest of $18.5k support which caused pumps on many Altcoins.
The Bitcoin price also broke the 2 months old trendline, the price data suggest it will continue going up after a slight pullback to $19.5. However, Bitcoin has to hold $18.5k for the continuation.
Right now the price of Bitcoin is at resistance area of $20.8k - $21k which needs to be broken in order for the price to retest the next resistance of $22.5k. The Price Action also suggests that Bitcoin price is in a parallel channel if I am correct the target is going to be $24k - $25k for this move. We can expect a pullback towards $19.5k if price doesn't hold the current levels.
All the important levels are marked on the chart.
Enjoy Trading.
(press like 👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis)
The Bitcoin price also broke the 2 months old trendline, the price data suggest it will continue going up after a slight pullback to $19.5. However, Bitcoin has to hold $18.5k for the continuation.
Right now the price of Bitcoin is at resistance area of $20.8k - $21k which needs to be broken in order for the price to retest the next resistance of $22.5k. The Price Action also suggests that Bitcoin price is in a parallel channel if I am correct the target is going to be $24k - $25k for this move. We can expect a pullback towards $19.5k if price doesn't hold the current levels.
All the important levels are marked on the chart.
Enjoy Trading.
(press like 👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis)