At present, Bitcoin (BTC) is trading near the upper boundary of its recent price range, currently positioned at a relatively high peak. The market appears to be approaching a minor resistance level situated just above the current price. If the price action continues its upward momentum and touches this resistance, there is a strong likelihood that it will face selling pressure. This could result in a price reversal, potentially leading BTC to decline and retrace back down toward the most recent significant swing low, where previous support was established
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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.