Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Chart Analysis:- As the daily chart depicts, the price has been demonstrating strong bullish momentum over the recent months. Yet, the market is currently testing the $38K resistance level and is yet to break convincingly.
If a bullish breakout occurs, there would be little resistance preventing the price from reaching the next key level, which is located around the
41K
mark.
However, with the relative strength index showing a clear bearish divergence between the recent highs, there is also the possibility of a pullback in the coming weeks. In this case, the $34K and the $30K levels would be potential targets.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
Chart Analysis:- As the daily chart depicts, the price has been demonstrating strong bullish momentum over the recent months. Yet, the market is currently testing the $38K resistance level and is yet to break convincingly.
If a bullish breakout occurs, there would be little resistance preventing the price from reaching the next key level, which is located around the
41K
mark. However, with the relative strength index showing a clear bearish divergence between the recent highs, there is also the possibility of a pullback in the coming weeks. In this case, the $34K and the $30K levels would be potential targets.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
