RLinda ! BTCUSD-> Cryptocurrency market flagship tests $21000

14 בינו׳ 2023

Bitcoin is starting its long-awaited rise. The price breaks through a number of strong resistance levels, repaints almost the entire cryptocurrency market in green and enters a wide range, which may play a key role in the life of the flagship



Over the past few weeks, price has been making quite a strong momentum from the second bottom ($16293), breaking through trend resistance. The price strengthened by more than 30% and was able to test the $21000 zone.
In this trading session, the closing of the weekly candle may determine the further direction, if the price strengthens above the global and strong support line 19666 bitcoin in the medium term may go to 25053 (middle line of the range), Long-term potential for this maneuver I believe resistance 30.261 (but everything depends on price behavior)

Why I believe that the price can reach either 25,000 or 30,000:
1) Entering the range from the support side, a further target would be to reach the key liquidity zone that lurks behind the upper boundary of the sideways range
2) Price breaks the bearish patterns and updates the highs of two months ago
3) "Santiment" reports:

• 3.1 - There is a significant increase in large BTC transactions
  
• 3.2 - Wallets with balance of 100-10000 ETH actively accumulate coins
  
• 3.3 - A sharp increase in Chainlink network activity
  
• 3.4 - Whales continue to build up their positions in Stablecoins
  
• 3.5 - Increased "profit-taking" in BTC
  
• 3.6 - Huge surge of social activity in XRP
  

Indicators are moving into the green zone, if you pay attention to the volume profile, the next density zone starts from the 29260-32560 range, which suggests that the price can approach the upper resistance of 30261 relatively quickly

Regards R. Linda!

14 בינו׳ 2023

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