Bitcoin Point of Interest
Updated
Bitcoin [
BTC] has been on a tear in Q1 rising 70% in the first three months of the year. Price is now approaching two major resistances near 30k. The horizontal resistance and there is the diagonal from April 2021...two years ago.
I expect BTC to tag 30k before correcting down to the 25k range break. Price action there will determine whether this is a bull market or a bear market rally.
BTC] has been on a tear in Q1 rising 70% in the first three months of the year. Price is now approaching two major resistances near 30k. The horizontal resistance and there is the diagonal from April 2021...two years ago. I expect BTC to tag 30k before correcting down to the 25k range break. Price action there will determine whether this is a bull market or a bear market rally.
Note
Big moment right at both resistances. My only concern is the volume on this overnight pump. Very low volume move. Not necessarily indicative of a failed rally but I'm wary of a bull trap.Note
The moment of truth is upon us.
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