📊TECHNICAL ANALYSIS - DAILY TIMEFRAME
Some time ago price declined to the resistance zone, which coincided with the 25800 resistance level, but at once rebounded up and started to trade near this level. Later price rebounded from the 25800 - 26000 resistance zone and made a strong upward impulse to the next 27100 resistance level. Also soon, BTC broke this level, which coincided with one more resistance zone and rose higher to 28150 points. But then the price started to decline and in a short time declined lower than two resistance levels. Bitcoin also entered to upward channel, in which the price rose higher than the 25800 resistance level, but not long time ago it fell back and at the moment it trades in the resistance zone inside the upward channel. I expect that Bitcoin can make a correction to the support line of the channel and then rebound and start to rise to the resistance line of the upward channel, thereby breaking the resistance level. Therefore I set up my target at 26330, which coincides with the resistance line.
📊QUICK FUNDAMENTAL LOOK
BITCOIN: Not out of the woods yet. Last week’s early bounce was short-lived after the Securities and Exchange Commission (SEC) delayed making any decision on Bitcoin ETF applications. While many remain hopeful of an eventual blessing from the agency, the optimism isn’t being reflected on the technical charts of BTCUSDT just yet.
⚠️Trading contains elements of risk, please be careful when Making Orders, Market Recommendations are only for consideration.