BTC - Spicy Breakout - Entering Range of Resistance
In the past two weeks Bitcoin successfully retested the Nov-21 former resistance as support. The 23.6 fib level held (with intraweek wicks lower). This indicates bulls are in control.
Price is approaching the value gap that rejected Bitcoin last summer. This is historically a heavy sell range, and its likely to get messier here through the next week or two.
Momentum on lower timeframes might see another push. Daily looks healthy but weekly might need a reset. Monthly looks beautiful with momentum reset and a lot of upside potential.
Note that Bitcoin may recapture some of it's market share (ie. dominance) as it climbs, but I suspect it will continue to underperform against stablecoins and the growing trust and interest in altcoins.
I'm not selling here, but I will monitor how price reacts to the gap.
Resistance: 24.3k,
29K, 30k
Support: 24.2k, 22.8k, 21.7k, 20k
Price is approaching the value gap that rejected Bitcoin last summer. This is historically a heavy sell range, and its likely to get messier here through the next week or two.
Momentum on lower timeframes might see another push. Daily looks healthy but weekly might need a reset. Monthly looks beautiful with momentum reset and a lot of upside potential.
Note that Bitcoin may recapture some of it's market share (ie. dominance) as it climbs, but I suspect it will continue to underperform against stablecoins and the growing trust and interest in altcoins.
I'm not selling here, but I will monitor how price reacts to the gap.
Resistance: 24.3k,
29K, 30kSupport: 24.2k, 22.8k, 21.7k, 20k
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