BitcoinUpdated What else stands in the way of BTC reaching $120,000?
What else stands in the way of BTC reaching $120,000?
Looking at the daily timeframe, the asset has bounced off the $92,000 support level seen a few weeks ago.
The $100,000 level was recently breached, allowing for a gradual rise towards the $110,000 level and possibly even higher.
The RSI suggests that momentum remains bullish and the market could soon rebound towards the $120,000 level.
4-Hour Chart
The recent low price action can be clearly seen on the 4-hour chart. BTC has been stuck between the $108,000 and $108,000 levels for the past ten days or so.
This has led to a lot of uncertainty regarding the recent market action.
However, the overall market structure remains bullish and a breakout above the $108,000 resistance level is more likely than a bearish reversal.
Looking at the daily timeframe, the asset has bounced off the $92,000 support level seen a few weeks ago.
The $100,000 level was recently breached, allowing for a gradual rise towards the $110,000 level and possibly even higher.
The RSI suggests that momentum remains bullish and the market could soon rebound towards the $120,000 level.
4-Hour Chart
The recent low price action can be clearly seen on the 4-hour chart. BTC has been stuck between the $108,000 and $108,000 levels for the past ten days or so.
This has led to a lot of uncertainty regarding the recent market action.
However, the overall market structure remains bullish and a breakout above the $108,000 resistance level is more likely than a bearish reversal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.