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.