BTC continued its rangebound momentum between the price level of
25K
to
27K
during the past week.
On the Fibonacci retracement table, it has formulated a resistance zone between the 0.5 FIB level and the 0.382 FIB level.
However, the RSI level reflects a sudden uptick (57.07) after avoiding a dip towards the oversold region. If the level is able to cross and sustain above 60, we can expect the world’s largest digital asset to retest the crucial psychological mark of $30K again.
The directional movement index suggests that there can be sustainable positive momentum for BTC as +DI (23) looks at the potential to have a positive crossover against ADX (28) and -DI (25.61).
Overall, the resistance levels for BTC can be placed at
27K
and $29K. On the other hand, support levels can be placed at
25K
and
23K
, respectively.
25K
to
27K
during the past week. On the Fibonacci retracement table, it has formulated a resistance zone between the 0.5 FIB level and the 0.382 FIB level.
However, the RSI level reflects a sudden uptick (57.07) after avoiding a dip towards the oversold region. If the level is able to cross and sustain above 60, we can expect the world’s largest digital asset to retest the crucial psychological mark of $30K again.
The directional movement index suggests that there can be sustainable positive momentum for BTC as +DI (23) looks at the potential to have a positive crossover against ADX (28) and -DI (25.61).
Overall, the resistance levels for BTC can be placed at
27K
and $29K. On the other hand, support levels can be placed at
25K
and
23K
, respectively.