Technical Analysis
By Shayan
The recent upward momentum in Bitcoin’s price encountered resistance upon reaching the significant $37K mark.
However, the market has entered into a consolidation phase, with the price oscillating within the range defined by $37 and $35K. A breakout from this critical range will determine the subsequent trajectory for Bitcoin.
The Daily Chart
On the daily chart, the substantial uptrend in Bitcoin lost steam after breaking out from the $35K resistance zone and the middle trendline of the extended ascending channel. This transition led to a consolidation stage, presenting a crucial range between the resistance of $37K and the critical $35K support. Hence, Bitcoin’s future prospects will be determined by the price breaking out of this decisive range.
Despite several bullish signals indicating increased demand, the scenario of a short-term consolidation correction with minor retracements appears more plausible. Initial support for buyers is anticipated at
We współpracy z: https://cryptopotato.com/here-are-the-possible-scenarios-for-bitcoin-in-the-coming-week-btc-price-analysis/
