Technically, Bitcoin is ready to continue its upward rally after a short pullback.
As you can see, the price tested the upper boundary of the wedge after the breakout and bounced up. This is a very strong confirmation signal for the upside wedge.
Also, the price bounced off the short-term moving average.
In fact, now there is a struggle for the $30,000 level, and we have said many times before that this level cannot be broken the first time. Above this level, there is emptiness up to $32300-35200. Now the buyer has everything to reach these levels.
Only volumes at current levels are still low, and the fundamental background for growth is very poor.
📊 If you look at the situation on the SP500, it is on the verge of a breakdown of the mirror level 4166. This level has been successfully keeping the index from rising higher for more than a year. But the technical picture says that we will see a breakdown in the near future.
The growth of the SP500 index may also affect the continuation of the rally in the crypto.
☄️ In our closed club, we have already added BTC at the very bottom of the local correction. Of course, at such high prices, it is better to work only with stops.
#btc #crypto2023 #investideabinance
