BTC → A level test on which much depends. 34000

28 Okt 2023

BTCUSD is overcoming the key milestones of 30k and 31k, most likely the reason is based on fundamental leverage. At the moment the price is testing the 34000 area and this is an important enough level, which can open a very steep perspective



On the older timeframe I have indicated the key levels that can influence the medium and long term price formation. At the moment the price is testing the trigger level. There is a probability that a false breakout and correction will be formed, as this area was tested more than a year ago.

The impulsive jump is related to the ETF news and the involvement of the U.S. court and its relationship with the SEC, which cannot be resolved. There are more and more chances and reasons to approve ETFs and the market is reacting to it. A break of the 34K resistance will open a wide range and the price will get a new motivation as 46.9K

On the daily timeframe, the price is testing bullish channel resistance. A correction to the nearest support may follow before a further rise. But it can also be a simple breakout followed by consolidation above the channel and further growth to 37.6K. It is important to watch the price reaction to the mentioned zone.

Resistance levels: 34000, channel resistance
Support levels: 33400, 32200

I assume that after consolidation or correction to the nearest support, further growth will continue to the above targets

BTC1! BTCUSD TOTAL TOTAL2 TOTAL3 US500

Regards R. Linda!

28 Okt 2023

Catatan

Price in a wide range of 35k - 33k
The key nuance is stopping and consolidation after strong growth.
Most likely the growth can continue
But first I am waiting for a breakout of 34283 and growth to 35200

29 Okt 2023

Catatan

Breakout of "symmetrical triangle" consolidation

30 Okt 2023

Catatan

Support Retest. A consolidation above one of the above support levels will provide a convenient entry point