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 Poised to Rise Above $28,000 Following a Historical Trend
The market appears primed to replicate a historical pattern characterized by significant bullish momentum, observed in November before Bitcoin halving events. Similar occurrences transpired in 2015 and 2019. Presently, on the daily chart, the market is trading slightly above the 75-period Moving Average (MA), a feat accomplished after overcoming the descending trendline.
BTCUSD Key Levels
Supply Levels: $30,000, $28,000
Demand Levels: $26,300, $25,800
The market appears primed to replicate a historical pattern characterized by significant bullish momentum, typically observed in November just before Bitcoin halving events. Similar occurrences transpired in 2015 and 2019. Presently, on the daily chart, the market is trading slightly above the 75-period Moving Average (MA), a feat accomplished after overcoming the descending trendline.
The Relative Strength Index (RSI) line on the daily chart has undergone a sharp ascent from the oversold region to bullish territory on its chart. Additionally, the market remains above the 75-period MA on the 4-hour chart as it retests the $28,000 level.
Market Expectations
While the 4-hour RSI line briefly ventured into the overbought zone before retreating below the 50 mark, the ongoing struggle around the $28,000 level suggests a forthcoming upward move reminiscent of previous occurrences. Bitcoin is poised for a potential rally beyond $28,000, following the historical trend.
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
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.