BTC Bitcoin Make Or Break Point
BTC is approaching the end of the Parabola it has formed and has touched the top of the ascending channel (Potential Bear Flag).
Any break to the upside here would send the price directly to 51-52k. If this happens, this would negate any more bearish developments short term.
Support:
~$40,000 - $45,500
Bulls do not want to see prices lower than $45,000. If it does break, the momentum could shift fast.
My main concern is price finally pushed the RSI to its 1+ year-long resistance. It has been roadblocked ever since. It is going to be make or break in this area.
If you follow my posts you know my Macro views, so for now I am just watching short-term and waiting for swings.
Any break to the upside here would send the price directly to 51-52k. If this happens, this would negate any more bearish developments short term.
Support:
~$40,000 - $45,500
Bulls do not want to see prices lower than $45,000. If it does break, the momentum could shift fast.
My main concern is price finally pushed the RSI to its 1+ year-long resistance. It has been roadblocked ever since. It is going to be make or break in this area.
If you follow my posts you know my Macro views, so for now I am just watching short-term and waiting for swings.
~$45,000 - $45,500
My apologies