Bitcoin’s price surprisingly spiked higher yesterday, closing above multiple significant resistance levels. However, the main obstacle, the $30K level, remains intact.
Technical Analysis
By Edris
The Daily Chart
On the daily chart, the price has been supported by the 50-day moving average located around the $27K mark. It has rebounded from this level since, aggressively breaking above both the $28K resistance level and the 200-day moving average near the same area.
While yesterday’s daily candle closed above these levels, it still closed with a very large wick to the upside. For investors to be optimistic that the $30K resistance zone is finally about to be broken, today’s daily candle must hold above the 200-day moving average. Otherwise, the recent move will be another bull trap, and the price will likely crash afterward.
It’s also worth noting that yesterday’s move was caused by an outlier event of a false report of an approved spot Bitcoin ETF.
Source: TradingView
The 4-H
We współpracy z: https://cryptopotato.com/the-aftermath-of-the-false-bitcoin-etf-approval-report-wheres-btc-headed-next-bitcoin-price-analysis/
