📢 BTC - Will the range movement end?! 🤔
Bitcoin has started a sharp rise after a range movement in the last 24 hours in the $ 29,000 channel.
The $ 30,000 and $ 31,000 resistance levels are broken up again, and if the price stabilizes, the uptrend can continue up to the $ 32,000 resistance level.
With the price trend rising in the 1-hour timeframe, power will remain in the hands of buyers as long as $ 30,500 to $ 30,200 support is maintained.
The price has also broken the Ichimoku indicator upwards.
Note that unless the $ 32,000 to $ 33,150 resistance is broken up, the price trend will not go up in a 4-hour timeframe, and there is a possibility of a twin roof pattern.
Bitcoin price is now consolidating near the $30,800 level. Immediate resistance on the upside is near the $31,180 level. It is near the key decline's 61.8% Fib retracement level from the $32,400 swing high to the $29,255 low.
The next major resistance is near the $31,650 level. A clear move above the $31,650 resistance level could start another increase. The price could rise towards the $32,400 resistance in the stated case. The next major resistance sits near the $33,000 level.
The $ 30,000 and $ 31,000 resistance levels are broken up again, and if the price stabilizes, the uptrend can continue up to the $ 32,000 resistance level.
With the price trend rising in the 1-hour timeframe, power will remain in the hands of buyers as long as $ 30,500 to $ 30,200 support is maintained.
The price has also broken the Ichimoku indicator upwards.
Note that unless the $ 32,000 to $ 33,150 resistance is broken up, the price trend will not go up in a 4-hour timeframe, and there is a possibility of a twin roof pattern.
Bitcoin price is now consolidating near the $30,800 level. Immediate resistance on the upside is near the $31,180 level. It is near the key decline's 61.8% Fib retracement level from the $32,400 swing high to the $29,255 low.
The next major resistance is near the $31,650 level. A clear move above the $31,650 resistance level could start another increase. The price could rise towards the $32,400 resistance in the stated case. The next major resistance sits near the $33,000 level.
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In the meantime, bearish market sentiment continues to persist. The Fear & Greed Index continues to show “extreme fear.”
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