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Bitcoin’s Horizontal Levels Show Potential For Bullish Trend
After recovering its bullish momentum, the largest cryptocurrency in the market, Bitcoin (BTC), briefly broke above its key resistance level of $28,700. However, the cryptocurrency retracted and returned to trading within its range formed in the last week between $27,600 and $28,500.
În ciuda acestei acțiuni de preț agitat, un blog recent post de Justin Bennett, trader și analist al pieței cripto sugerează că BTC a stabilit niveluri orizontale „puternice”, care sunt favorabile atât pentru scalpi, cât și pentru investitorii care preferă această perioadă de gamă sau consolidare pe piață.
Aceste niveluri orizontale vor menține o scădere potențială a prețului BTC?
Bennett further mentions that Bitcoin trades above the $28,130 pivot point on an hourly and 4-hour closing basis. Any attempt to retest this level will likely attract sellers, potentially triggering another run at the $27,650 support floor and potentially lower prices.
Deși nivelurile orizontale văzute în grafic pot oferi oportunități de scalping, Bennett avertizează că există un risc potențial de scădere dacă nivelurile de suport ale BTC sunt încălcate.
Bennett sugerează că, deși prețul BTC nu are o direcție confirmată, în prezent există mai multe lichidări lungi sub preț decât lichidări scurte de mai sus. Aceasta înseamnă că un număr mai mare de comercianți au luat poziții lungi și ar putea fi expuși riscului de lichidare dacă prețul scade în continuare în weekend.
Cu toate acestea, cu Bitcoin trading above the key pivot point, there is still potential for further upside and consolidation above the $29,000 level. The $28,900 macro resistance level is the next target for BTC, and a successful breach could lead to further gains for the largest cryptocurrency in the market.
Bennett further suggests that the primary range for Bitcoin is between $26,500 support and the $28,900 resistance wall, with smaller ranges within this range. This can result in the price movement may be relatively stable within this range. Still, there is a potential for significant volatility if the price breaks out of this range and experiences a correction toward the support level.
A New Cycle Is Just Beginning For BitcoinAccording to Rekt Capital, with the closure of Q1 for Bitcoin and the broader cryptocurrency market, BTC is on the verge of confirming its first bullish quarterly engulfing candle since early 2020. This pattern occurs when the opening price of a particular quarter is lower than the closing price of the previous quarter.
Conform to Rekt, this pattern has historically preceded multiple quarters of upside for Bitcoin, meaning that BTC’s price tends to increase for several quarters after the pattern is confirmed, like in the bull market of 2021.
Chiar dacă Bitcoin’s price experiences a pullback in the near term, the sentiment of the cryptocurrency market seems to aim for one thing: BTC is poised for a new bull run.
The market is expected to undergo a sustained period of price increases in the coming months, with the first quarter closing above key levels. This suggests strong potential for growth and investor confidence despite short-term fluctuations in Bitcoinacțiunea prețului lui.
Imagine prezentată de la Unsplash, diagramă de pe TradingView.com
Sursă originală: Bitcoineste