empty
 
 
29.07.2021 05:22 PM
Bitcoin Consolidates Ahead Of A New Breakout!

Bitcoin changed little in the short term after jumping above a static resistance. Still, the bias is bullish, so the cryptocurrency could resume its growth after the current consolidation. BTC/USD is located in the buyer's territory, so further growth is favored despite minor and temporary declines.

Actually, a decline could help us to catch a new leg higher. We cannot exclude a potential drop after the most recent amazing rally. You can wait for a decline or look for new long opportunities around the current levels.

BTC/USD Very Attractive For Buyers!

This image is no longer relevant

Bitcoin is traded at around the 40,000 psychological level at the moment. It tries to consolidate above the weekly R2 (39,533) which represented a static resistance. Stabilizing above this broken resistance could signal further growth.

The third warning line (wl3) is seen as potential dynamic resistance. The next major obstacle is represented by the 43,000 psychological level. You should keep in mind that Bitcoin is trapped between 43,000 and 30,066 levels. An upside breakout from this major range could really announce a bullish reversal.

Forecast!

Personally, I would like to see a strong consolidation here above the R2 (39,533) followed by a new higher high and by a valid breakout above the third warning line (wl3) could signal a breakout through 43,000 as well. Jumping and stabilizing above this level indicates a broader growth.

Making a new lower low, dropping below 38,786.80 invalidated the bullish scenario and signals a potential drop towards the 36,000 level.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback