Veteran trader Peter Brandt bitcoin The chart maintains its upside potential after breaking out of a rather rare technical formation. in your opinion.
Peter Brandt, in his post on Twitter, is of the opinion that the rally in price will continue as BTC breaks the resistance of a support point formation around $19,000.
The bottom in BTC is a double-walled fulcrum formation. It is extremely rare. The 2X target is the mid 25,000s.
Crypto analyst Cheds also stated that he is closely following the $25,000 price level for Bitcoin. Sharing bull and bear scenarios for BTC, the trader argues that BTC will remain in a macro downtrend until it surpasses the $25,500 resistance.
Bullish: A significant blow to bearish momentum was observed as the bulls retrace into the 150-day range, close multiple days above the 200-day moving average for the first time since 12/21, and break the daily lower high.NEWS CONTINUES BELOW
Bear: The price is still below the 200-week moving average and the $25,500 trigger level. Until the bear is retested.
He also shared a chart showing that $25,500 is the bears’ last line of defense.
“BTC weekly chart. If the price exceeds $25,500, the bear thesis dies.”
Meanwhile, popular analyst Kaleo believes that Bitcoin will easily break the $25,500 resistance.
Send full soon, please and thanks. Sometimes it really is that simple… Something like that makes sense.