Bitcoin (BTC), finally started to rise with the opening of Monday trading hours and has already started the week with a strong stance, gaining more than 5.20%. This spike has seen BTC hit a high of $30,980 in the past few hours, relieving it from just above the psychological $30,000 level. However, its price failed to hold this level and it is trading at an average of $30,500, retreating a bit.
bulls, bitcoin price If they want to dominate the chart again, the first thing they need to do now is to climb above the $30,750 level and make a 4-hour close above this important resistance level. A close above this level could attract investors afraid to enter the market and potentially trigger an increase in buying pressure. If this rises, it could move towards testing the 200 hourly moving average at $32,500 or the ‘installation trendline’ of Tom DeMark (TD) Sequential at $34,700.
We would like to remind you that the ‘risk line’ of TD at $27,800 is at the forefront as an important level that will invalidate this setup. bitcoin If it declines and breaks below this support level, the bullish view will be invalidated and a correction towards the $22,300 level is possible.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.