In Daily timeframe Chart, Once Again Bitcoin Bulls Are Back in Town, Daily MA50 got Cleared & turned into Support.
At the Moment, Bitcoin bulls are testing the Key Horizontal Resistance 41k, If Daily Candle Closed Above the 40 .6k(Daily Resistance), Next Would be 46-48k Resistance Area .
Let’s be honest, after such a huge upswing (+40%) BTC needs at least a small correction as well as RSI did not retested it breakout downtrend, so RSI is also
need to be retest it breakout trendline.
Yesterday we faced the major resistance at $40,500 and couldn’t break it. Today we also got rejected there. This can be the short-term top!
I don’t expect the upcoming correction to go below 35K
The bearish picture invalidates if we do break above 41K
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