The Weak Overhead Resistance of Bitcoin: The Impact of Clear Skies on Trading

The Weak Overhead Resistance of Bitcoin: The Impact of Clear Skies on Trading

Bitcoin (BTC) Price Shows Probable for Surge to All-Time Highs

Bitcoin (BTC) is as of now currently worth $37,500, significantly lower than the record high of $68,000 it reached previously. Speculation implies that the top digital currency could surge past the resistance hurdles, possibly returning to all-time highs quicker than expected.

Monthly Ichimoku Cloud Upward Break for Bitcoin (BTC) Price

Technical analysts utilize numerous tools to visually examine and take positions based on the results, including the Ichimoku. This tool, originating from Goichu Hosoda, provides a comprehensive overview of market conditions. It includes the cloud that maps future support and resistance areas, as well as the Tenkan-sen and Kijun-sen that act as trend indicators.

Bitcoin’s 2023 surge decimates $6 billion worth of short positions

Minimal 1M BTCUSD Resistance + Bullish Trends

A close look at the chart outlines minimal remaining 1M BTCUSD resistance, suggesting that a positive trend trend could resurface. Regardless of the Tenkan-sen and Kijun-sen still indicating a bearish trend, past data shows prior positive trend cycles each took place under similar conditions.

Clear Sky for Bitcoin (BTC) Price Beyond Major Resistance

The Ichimoku chart indicates minimal resistance beyond the $60,000 mark, implying a clear path for Bitcoin (BTC) to reach new highs. The lagging span shows minor resistance at $43,000 and $60,000, yet once these levels are surpassed, Bitcoin (BTC) may have a smooth path ahead.

Montenegro Considers Extradition of Do Kwon to the United States, Reports WSJ

Hot Take

Based on this analysis, Bitcoin (BTC) may be that much closer to surpassing resistance and returning to all-time highs. The Ichimoku chart paints a positive trend picture for the top digital currency in the near future.

Author – Contributor at | Website

Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding.

New Report by European Central Bank Highlights Crypto Assets as Potential Legitimate Store of Value
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

Latest Crypto News

Share via
Share via