Support-and-resistance
Bitcoin: Breaking Barriers and Soaring to New HeightsBitcoin has been on a roller coaster ride in recent weeks, but it appears to have found some stability near the $29,000 level. The cryptocurrency took support from the white line on the chart, which is a key Fibonacci retracement level.
Now, Bitcoin is facing resistance at the $30,000 level. If it can break through this resistance, it could be on its way to higher prices. However, if it is rejected at this level, it could fall back to the support level at $26,000.
Traders will be watching closely to see if Bitcoin can break through the resistance at $30,000. If it does, it could be a sign that the cryptocurrency is ready to move higher. However, if it is rejected at this level, it could be a sign that the rally is over.
Technical Analysis:
Bitcoin is currently trading above its 20-day and 50-day moving averages.
The MACD indicator is currently showing a bullish crossover.
Conclusion:
Bitcoin is at a critical juncture. If it can break through the resistance at $30,000, it could be on its way to higher prices. However, if it is rejected at this level, it could fall back to the support level at $29,000. Traders will be watching closely to see which direction Bitcoin takes.
BALAJI AMINES LTD - Bullishness?Balaji amines Ltd gave resistance breakout with Good volume and made a retest. One can go long above day high with stoploss below the retest low.
Disclaimer :- I'm not SEBI registered analyst. This is my personal view. Information given is for educational purpose only.
Do your analysis before investing.