ðĨ Bitcoin Bouncing Off Resistance: Bulls Still Fighting!
In my most recent BTC analysis I talked about the fact that BTC managed to break out through the main bear market resistance, which made me switch bullish with a target of 40.000, which has played out well!
For the time being, BTC has a bit of trouble getting through the top resistance of the rising wedge pattern. Personally, I'm anticipating a break out soon, seeing the amount of new buyers entering the market.
On the other hand, we can still fall back towards the support of the pattern. Not very likely, but surely a possibility. In that case, buying from the bottom support would be a great entry point.
Till then, 40k is the target.
For the time being, BTC has a bit of trouble getting through the top resistance of the rising wedge pattern. Personally, I'm anticipating a break out soon, seeing the amount of new buyers entering the market.
On the other hand, we can still fall back towards the support of the pattern. Not very likely, but surely a possibility. In that case, buying from the bottom support would be a great entry point.
Till then, 40k is the target.
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