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
Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
BTCUSD Prepares to Assault the $28,000 Resistance Again
BTCUSD prepares for another attempt to breach the significant $28,000 resistance level. Over the past two months, Bitcoin has made two prior attempts to conquer this level, but both have met with resistance. The current market sentiment suggests that Bitcoin is poised for yet another challenge to retest this critical resistance.
BTCUSD Key Levels
Supply Levels: $30,000, $28,000
Demand Levels: $26,300, $25,800
As Bitcoin price reaches $26,550, an intriguing development emerges in the form of a reversal candlestick pattern, featuring a bullish hammer candlestick. The appearance of this reversal pattern suggests that there might be a shift in market sentiment, which aligns with a bullish bias observed in the new candlestick formation as of the time of writing.
Analyzing the daily chart, it’s evident that the Parabolic SAR (Stop and Reverse) dots have moved above the daily candlesticks, primarily in response to the recent rejection at the $28,000 resistance level. However, the Relative Strength Index (RSI) line has temporarily dipped below the 50 mark but is showing signs of an impending upward movement.
Market Expectations
Shifting the focus to the 4-hour timeframe, the RSI line initially descended into oversold territory following the price rejection at $28,000. However, it is displaying a reversal as it moves back towards the 50 mark. In parallel, the Parabolic SAR dots have switched positions below the 4-hour candlesticks. Bitcoin is poised for a renewed challenge at the $28,000 resistance.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus