We’ve made a great start to the new week! 🔥#Bitcoin has broken a significant resistance level, reaching an all-time high (ATH) and continuing its upward trend. This breakout is supported by high volume, indicating strong momentum. #BTCNear82k
Looking at the support and resistance levels on the chart:
1. Support Zones: The 73.8K and 67.4K levels currently appear to be important support areas. Especially 73.8K could act as a strong buying point in case of pullbacks.
2. Uptrend Scenario: This strong close above the ATH resistance increases the probability of further upward momentum, similar to previous trends. We have reached the target resistance indicated by the arrow on the chart, testing the 82,300 resistance. The next target zone is 91,000 USD.
3. Interim Corrections: In such rallies, interim corrections are healthy to prevent overheating. It’s essential to monitor the funding rates here, as high funding rates often signal a potential short-term correction.
In summary, the weekly close above the ATH offers a positive outlook. However, to maintain a healthy upward trend, interim corrections and key support levels should be monitored closely.
