This week, users of the Whitebit exchange voted for us to do a review and technical analysis of Bitcoin
Just yesterday, we wrote our opinions on the BTCUSDT pair on the month timeframe, analyzing the entire BTC trading history.
We invite you to check it out:
And today we will analyze the possible movements of the BTCUSDT trading pair for the coming weeks on the daily timeframe.
After a strong rise in the price of BTC on 30.05 by almost $3,000 up, for the second day buyers are trying to keep the price of BTCUSD above the level of $31400.
Such actions suggest that in the coming days the buyers might try to organize one more wave of growth, at least till $34500.
It is at this level that the future trend of the cryptomaket will be decided.
Fixing the price of BTCUSDT above $34,500 will open the way for further growth up to $48,000
Aggressive selling by sellers around $34500 may lower the BTC price to $29000 and this will still be a tolerable scenario for growth to continue in the future.
But, if the sellers can push and fixing the price below $28800, that is a clear signal that they are about to go price more low.
The first area where the decline can stop will be $23650-26650. It’s GAP which was formed in December 2020 and is still not filled completely, though two weeks ago it already had a drop in price to this zone.