The BTC is fighting for its reputation

The BTC is fighting for its reputation

After one of the most difficult months so far, Bitcoin is gaining momentum and wants to rebuild its reputation.

Let’s see what it looks like on the BTC market today

  • Right now the BTC is in an important battle for future price developments.
  • From March 12 until yesterday the BTC moved around $ 5,000 and tested important boundaries (trendline).
  • The most important trendline, passed the double test, still confirmed the strength of the BTC.
  • Yesterday managed to surpass $ 5800 and BTC is trying to get through horizontal resistance. It will not be easy, because in this area a lot of traders are concentrating and searching for SHORT orders.
  • However, Bitcoin has a good chance of progressing if manage to exceed $ 7,000 (the whole horizontal resistance zone), it will be a significant step and assurance for all investors.
  • If we do not overcome the horizontal resistance, and we will be under this zone , it will be important to follow the BTC TRENDLINE again.

Eventually, BITCOIN was not in trouble for a long time and we believe that the worst is over.

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