Wed. May 22nd, 2024
bitcoin etf coming
  • Bitcoin (BTC) holds strong above $41,500, eyeing a bullish break beyond the $43,200 resistance zone.
  • The price is supported by a key bullish trend line and the 100 hourly Simple Moving Average, signaling potential for an upward swing.

The Bullish Hustle: Bitcoin, the enigmatic pioneer of cryptocurrencies, is orchestrating a captivating dance above the $42,000 mark. A recent dip below $42,200 didn’t dampen the spirits; instead, BTC formed a resilient base above $41,200, initiating a fresh ascent.

The Fibonacci Symphony: As the price climbed, it elegantly surpassed the 50% Fibonacci retracement level, rekindling optimism. BTC now trades above $42,200 and the 100 hourly Simple Moving Average, twirling gracefully amidst bullish indicators.

Bullish Waltz and Key Levels: A key bullish trend line, a dancer’s guide, emerged with support near $42,280. The performance unfolds with immediate resistance near $42,800 and a spotlight on the $43,200 zone. A triumphant close above $43,200 could propel BTC toward the main hurdle at $43,800, setting the stage for a dazzling climb toward $44,500 and beyond.

Hold Tight or Brace for a Dip: Should Bitcoin falter in its dance above $43,200, a graceful decline may commence. The supporting cast includes levels near $42,250 and the trend line, preventing BTC from stumbling. However, a dramatic fall below $41,620 may signal a risk of more losses, sending BTC toward the $40,500 support.

By Julia

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