The BTC rate once again broke through the downward trend from ATH on March 14. Another attempt to gain a foothold above it and the psychological $70,000. The expressive squeeze towards the trend, which was written about today before the start of growth, at a price of $68,649, is working itself out.
Now the price has reached the volume level of $70,780 and the global upward trend since January 2023 (indicated by a dotted line). Which acted as resistance until the end of February 2024. And from February to April she acted as support. The breakdown of these resistances opens the way to rapid and impulsive growth in the BTC rate. Up to the “God’s candle” scenario.
Two key points for the growth scenario now:
- As long as the price is above the downward trend since March 14, it goes to the new ATH.
- To be confident in growth, it is important to gain a foothold above this trending candle, not only with today’s candle, but also with tomorrow’s. The experience of May 20-21 shows that a convincing retest is needed.
