The BTC price closed at $28,500 with a 5% gain yesterday, despite the circulation of fake news regarding Bitcoin ETF approval.
The positive aspect is that BTC closed above the MA200, which is situated near $28,000.
The chart is also showing a Higher High and Higher Low pattern, indicating that the BTC price may once again test the $30,000 level.
Support: Two key support levels are at $28,000 and $27,200.
Resistance: The first short-term resistance is at $29,000, while $30,000 to $32,000 will serve as major resistance levels.
Note: Just as BTC reached $30,000 yesterday, catching many short traders off guard, we anticipate that BTC may experience a downturn to clear out long positions. This is a common practice by market makers during a bull run.
If you're not an active trader, consider using a DCA (Dollar-Cost Averaging) strategy.
$BTC #bitcoin #BTC #crypto #trading
