Bitcoin might nail a four-week high on this Sunday's weekly close.
Friday's late surge had broadly held, and Saturday saw a return of $42,400 on Bitstamp, matching the high from the start of March.BTC/USD 1-week candle chart . Source: TradingView
"This could change anytime, but frankly the Bitcoin price chart currently looks better than it has for quite a while now," analyst Lyn AldenPrevious takes had cautioned about a real shift occurring in BTC price action, with popular trader Pentoshithat a potential uptick would likely not last and ultimately become the precursor to new lows.
Fellow Twitter analyst Credible Crypto meanwhile presented two likely trajectories for BTC/USD based on daily demand holding the market at a specific price. One option involved a break of $42,500 followed by $45,000, while its bearish counterpart delivered a bottom target of $29,000-$32,000. An update to this idea- daily demand held and if we are seeing Option 1 play out- the triangle structure may now actually already be complete. If this is the case, it will become VERY clear in the next couple days. Starting with a break of 42.5k and 45k shortly after.
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