BTC will hit to new ATH? 🚀
Bitcoin remains just under a zone of resistance that has held since the start of the year and looks like it may be readying itself for a fresh attempt to move higher. The zone on either side of $45.5k was originated from a series of supportive lows back in December last year. These supportive lows then turned to resistance in early-to-mid February and currently remain a cap on any move higher. Yesterday’s attempt was rebuffed and Bitcoin is now sitting in a narrow daily range eyeing the next move.
If/when BTC/USD finally breaks through this resistance, and confirms the move with a close and open above $45850, then there is little in the way of resistance all the way back to the
52K+ level. Support is seen at 
42K and $39.6k and the latter should hold unless there is a strong risk-off shift in the market. The crisis in Ukraine continues to dominate market sentiment and while the technical set-up for a move higher looks in place, the fundamental backdrop cannot be ignored.
Bitcoin remains just under a zone of resistance that has held since the start of the year and looks like it may be readying itself for a fresh attempt to move higher. The zone on either side of $45.5k was originated from a series of supportive lows back in December last year. These supportive lows then turned to resistance in early-to-mid February and currently remain a cap on any move higher. Yesterday’s attempt was rebuffed and Bitcoin is now sitting in a narrow daily range eyeing the next move.
If/when BTC/USD finally breaks through this resistance, and confirms the move with a close and open above $45850, then there is little in the way of resistance all the way back to the
52K+ level. Support is seen at 42K and $39.6k and the latter should hold unless there is a strong risk-off shift in the market. The crisis in Ukraine continues to dominate market sentiment and while the technical set-up for a move higher looks in place, the fundamental backdrop cannot be ignored.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.