#Bitcoin Explodes; BTC May Break $31k as Bulls Flow Back
Past Performance of Bitcoin
Bitcoin is up nearly 21% in a week. From the daily chart, buyers are firmly in control, and the coin is likely to not only breach
31K
but register new 2023 highs in continuation of the buying pressure from late Q1 and early Q2 2023. As it is, every low may offer entries for optimistic buyers angling for even more gains in future sessions. The first target is at $32.5k and $35k in the medium term.
#Bitcoin Technical Analysis
Buyers have the upper hand, and the bull bar of June 21 is wide-ranging, pointing to buyers. Therefore, based on the formation in the daily chart, every attempt lower may offer entries for buyers to double down. The immediate support is $30k, while resistance is $31k. There were attempts for lower lows on the tail end of June 21. Overall, the uptrend remains provided prices are above $30k and with further support that prices are riding along the upper BB.
What to Expect from #BTC?
The long-term trend, following gains from March to April, is bullish. As it is, the past week's surge is a reversal from recent support levels and may anchor the next leg up toward
31K
or better.
Resistance level to watch:
31K
Support level to watch: $30k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin is up nearly 21% in a week. From the daily chart, buyers are firmly in control, and the coin is likely to not only breach
31K
but register new 2023 highs in continuation of the buying pressure from late Q1 and early Q2 2023. As it is, every low may offer entries for optimistic buyers angling for even more gains in future sessions. The first target is at $32.5k and $35k in the medium term. #Bitcoin Technical Analysis
Buyers have the upper hand, and the bull bar of June 21 is wide-ranging, pointing to buyers. Therefore, based on the formation in the daily chart, every attempt lower may offer entries for buyers to double down. The immediate support is $30k, while resistance is $31k. There were attempts for lower lows on the tail end of June 21. Overall, the uptrend remains provided prices are above $30k and with further support that prices are riding along the upper BB.
What to Expect from #BTC?
The long-term trend, following gains from March to April, is bullish. As it is, the past week's surge is a reversal from recent support levels and may anchor the next leg up toward
31K
or better. Resistance level to watch:
31K
Support level to watch: $30k
Disclaimer: Opinions expressed are not investment advice. Do your research.
