Bitcoin’s price has finally broken above the $45K mark on its path toward creating a new all-time high. While the technical chart looks strong, there are some worrying signals arising from on-chain metrics.
Technical Analysis
By TradingRage
The Daily Chart
On the daily timeframe, the price has clearly been bullish for the last few months. Following the breakout above the $40K level, the market has gone through a consolidation phase. However, the $40K area has acted as a formidable support level, pushing the price even higher.
BTC is approaching the $48K resistance level, which is the next significant obstacle. If it is broken to the upside, the probability of witnessing a new all-time high in 2024 will considerably increase.
Source: TradingView
The 4-Hour Chart
The 4-hour chart presents a clearer picture of the recent action. The price has formed a symmetrical triangle after pushing above the $40K mark.
However, it recently broke the triangle to the upside with astonishing momentum.
We współpracy z: https://cryptopotato.com/bitcoin-price-analysis-btc-skyrockets-to-46k-but-worrying-signs-appear/
