BTC USD Bulls charge ahead -Daily Timeframe Analysis-
BTC is now back to an uptrend. The USD has been weak lately and with common financial platforms becoming more inclusive of crypto-- we're ready for green.
On both the daily and weekly timeframe, BTC has some decent resistance over 13240-13350ish. This range is both a previous top point, fib retracement level, and upward slope resistance on the weekly timeframe. Traders naturally took profit at that area and now we're consolidating-- bull flag potential and an ascending triangle seem to be in the works. Bulls need to break through this resistance range to open up 15k+. ETH and other altcoins naturally rallied with this. Keep eyes on that level. Another rejection and we'd fall back to 13k and more likely to the 12930-80 area. Below that there's some support 12121-12330 area. This would not be unhealthy and shouldn't deter buyers, as I see those ranges as areas to accumulate more $$$. 13350 area is what needs to be broken and closed above. 15k &17k would be next target. Watch the USDollar for guidance, as well.
On both the daily and weekly timeframe, BTC has some decent resistance over 13240-13350ish. This range is both a previous top point, fib retracement level, and upward slope resistance on the weekly timeframe. Traders naturally took profit at that area and now we're consolidating-- bull flag potential and an ascending triangle seem to be in the works. Bulls need to break through this resistance range to open up 15k+. ETH and other altcoins naturally rallied with this. Keep eyes on that level. Another rejection and we'd fall back to 13k and more likely to the 12930-80 area. Below that there's some support 12121-12330 area. This would not be unhealthy and shouldn't deter buyers, as I see those ranges as areas to accumulate more $$$. 13350 area is what needs to be broken and closed above. 15k &17k would be next target. Watch the USDollar for guidance, as well.
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