Moving Charts: BTC Value Per Coin Analysis | 10% To @tron-fan-club

arsalaan (76)in Tron Fan Club • 2 days ago (edited)

Hello everyone and welcome to everyone at Tron Fan Club. After creating a new all-time high in March 2024, Bitcoin has been consolidating for a long time. Hence, we witnessed downtrend in the last months with some exceptions. But, last month, we saw, BTC break the historical resistance and make a new All Time High. Today we will look at the price movements of BTC and reflect on where it could go next.

Last week, the King of Cryptocurrencies, BTC was hovering below the 93700$ level. BTC was on uptrend for weeks. We saw a continuation this week. In this weeks, BTC started going down from the first day. At the start of the week, BTC started its journey to break 97500$, but failed at the first time. Eventually it broke out later. Due to break-out, BTC went up to the sub 99000$ level, which was clearly a strong resistance zone.

After the quick upward movement, BTC got rejected at the next resistance, making a short fall. After that, BTC started going up quickly. It followed a bullish trendline as it went up. It is now above the trendline, which needs to be held on. It also needs to break through the resistance ahead. It is now at 97700$. This is ultimately a 4.4% gain in value over a time span of seven days.

All Screenshots are taken from Coingecko

No words from this article should be taken as financial advice.