📊TECHNICAL ANALYSIS ON 1-HOURS TIMEFRAME
Some days ago BTCUSDT price traded in the resistance zone, which coincided with the 26900 resistance level, but soon it rebounded and made a strong impulse up to the 28000 resistance level, and even rose higher of it, thereby breaking this level. But soon BTC rebounded and fell below this level, which coincided with one more resistance zone. Next, the price entered to downward channel, where BTC first rose to the 28000 resistance level, some time traded near, and then started to decline to the 26900 level. Price, after falling to this level at once broke it and declined to support line of the channel. A not long time ago Bitcoin rebounded and tried to break the resistance level. but failed and now it trades near. I expect that BTC can rise to a resistance level and break it. After this price makes retest and then continues to rise to the resistance line of the downward channel. Therefore I set up my target at the 27450, which coincided with the line.
📊QUICK FUNDAMENTAL LOOK
As Bitcoin (BTC) continues to trade below $30,000, questions have been raised on the stakes of the leading cryptocurrency breaching this psychological price level. Leading market analyst Michael van de Poppe has delved deeper into this matter and suggested that BTC ought to continue making higher lows and holding the $27,500 zone for the much-needed momentum.
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