Bitcoin (BTCUSD) is Close to Another Rally
Login

Bitcoin (BTCUSD) is Close to Another Rally

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


BTCUSD Is Close To A Breakout Beyond Its All-Time High

BTCUSD is close to a significant rally, nearing a breakout beyond its previous all-time high (ATH) of $73,840. The cryptocurrency has recently matured from a bullish pennant structure, with sellers making commendable efforts to limit buyer activity below the ATH. However, the market’s bullish sentiment remains intact, as evidenced by the formation of a pennant structure, poised to act as a launching pad for an impending market rally.

BTCUSD Key Levels

Supply Levels: $75,000, $73,000, $69,000
Demand Levels: $64,000, $59,000, $52,000

Bitcoin (BTCUSD) is Close to Another Rally

Currently, the price has breached the upper boundary of the pennant structure and is undergoing a retest, setting the stage for a potential market surge. Upon validation of this breakout, BTCUSD is anticipated to surpass the $73,840 ATH and establish a new record high.

On the daily chart, the Parabolic SAR (Stop and Reverse) dots are prominently positioned below the candlesticks, aligning well with the upward trajectory of the price within the pennant structure. Despite a slight dip from the overbought region, the Relative Strength Index (RSI) remains robustly positioned at the 50 mark on its chart, indicating that bullish momentum is still in play.

Bitcoin (BTCUSD) is Close to Another Rally

Market Expectations

Switching to the 4-hour timeframe, the Parabolic SAR dots are predominantly positioned below the candlesticks, reflecting the market’s overall upward movement. The RSI, on the other hand, is oscillating across its entire chart range, from oversold to overbought territories. This dynamic behaviour is expected to persist until the market enters a clearly defined overbought condition, signalling the anticipated rally.

How To Buy Lucky Block

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News