
The post Here is the Bitcoin Breakout Plan-Watch Out for These Levels in the Next Few Hours! appeared first on Coinpedia Fintech News
The price movement of the star crypto Bitcoin has been bearish for the past few days, ever since the time when it faced rejection from the yearly highs. Soon after the bears took back control at $31,000, the price began to drop. After the recent rebound, the BTC price appears to be quite confident on the next move, as it may further clear some crucial levels, triggering a fine upswing.
The BTC price has been trading within a short-term channel-down pattern since April’s high. The latest rebound that was made on the MA-100 acted as a strong base and triggered a fine rebound from the lows. Technically, this level can alter the current pattern dynamics as it falls into the category of macro support levels.

Now that the BTC price is testing crucial resistance levels, a daily close may have a larger impact in the coming days. A daily close below may be considered bearish and may drag the price toward the -1.0 Fibonacci extension. In such a case, the target could be the red line, which represents the MA-200 levels at $23,000. Else, if the daily close is above $29,850, then a bullish break-out may raise the price towards the 2.0 FIB levels towards the target at the green line at $33,000, which is the MA-100 level.
Anything within the two resistance or support levels is short-lived with high volatility, but the range within the daily MA-200 and 4H MA 200 represented by the orange line can be scalped using 4H MA–50 (blue line) as Pivot. Although the short-term trend flashes the possibility of a bearish breakdown below $25,000, in the larger time frames, BTC price continues to remain largely bullish.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks