$BTC Bitcoin Must Break Through $82,000 to Open the Path to $90,450
With the 200-day EMA still acting as resistance, Bitcoin needs to cleanly break above $82,020. A new upward level will come into play after that.
Volume tells part of the story. Since April 13, daily volume has been trending down even though prices are slowly rising. This declining participation is one reason why every attempt to reclaim has failed.
The next test above the 200-day EMA is at $83,608, which is the Fibonacci 0.236 level. If it breaks this level, the 200-day EMA will no longer hold back price movement. After that, the path opens to $86,223 and $88,336.
If it pushes above $88,336, then $90,450 or Fibonacci 0.618 becomes the next major resistance, which we also highlighted in our crypto market review.
Bitcoin Price Analysis
On the downside, $79,381 is the nearest support. If it breaks, then $74,903 is the next horizontal floor. If it loses $74,903, deeper testing towards $70,493 could occur.
#IranRejectsUSPeacePlan #StrategyToResumeBTCPurchases $AAVE $LTC
With the 200-day EMA still acting as resistance, Bitcoin needs to cleanly break above $82,020. A new upward level will come into play after that.
Volume tells part of the story. Since April 13, daily volume has been trending down even though prices are slowly rising. This declining participation is one reason why every attempt to reclaim has failed.
The next test above the 200-day EMA is at $83,608, which is the Fibonacci 0.236 level. If it breaks this level, the 200-day EMA will no longer hold back price movement. After that, the path opens to $86,223 and $88,336.
If it pushes above $88,336, then $90,450 or Fibonacci 0.618 becomes the next major resistance, which we also highlighted in our crypto market review.
Bitcoin Price Analysis
On the downside, $79,381 is the nearest support. If it breaks, then $74,903 is the next horizontal floor. If it loses $74,903, deeper testing towards $70,493 could occur.
#IranRejectsUSPeacePlan #StrategyToResumeBTCPurchases $AAVE $LTC