BTCUSDT needs to break 24,300 to gain a proper rally
BTCUSDT (in spot) needs to break the last high just above 24,300 to really start a bullish rally. This is the same are around 24,200 in futures. The price action has dabbled with that price area today but on the 1st and 2nd attempts it was rejected since there was not enough volume to keep the bears from initially keeping the price down. It's just a matter of time before BTC breaks above that area and puts us on track to going likely above 28k. There doesnt seem to be much in the way until we get around 28,500 where former support areas will create some resistance.
There are a lot of buy orders as well as longs sitting just above the last high, and the force of these orders getting executed will likely trigger a bullish reaction.
There are a lot of buy orders as well as longs sitting just above the last high, and the force of these orders getting executed will likely trigger a bullish reaction.
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