Analysis of BTC USD
BTC facing huge resistance at the falling trend line resistance on the weekly chart nevertheless the bulls are trying to push for a breakout with descending broadening wedge forming it may happen.
10500 is a key level for me if we break the trend with momentum and close above it, there is a big chance we could test the highs of 2019, but for now, I see a multi-level of resistance above where we are now 10500-11500.
Looking to the downside, if BTCUSD fails to break in the short term we could see bulls giving up and bears taking over and BTC could start to fall.
BTC facing huge resistance at the falling trend line resistance on the weekly chart nevertheless the bulls are trying to push for a breakout with descending broadening wedge forming it may happen.
10500 is a key level for me if we break the trend with momentum and close above it, there is a big chance we could test the highs of 2019, but for now, I see a multi-level of resistance above where we are now 10500-11500.
Looking to the downside, if BTCUSD fails to break in the short term we could see bulls giving up and bears taking over and BTC could start to fall.