Bitcoin (BTC) appears to have shrugged off the heavy selling of last weekend into Monday, and is continuing to recover in price. Currently battling strong resistance around $57,000, can $BTC break through to the next big resistance at $61,000?
Bulls take back control
Bulls have taken back control of the Bitcoin price, and not in a tentative way. Since last weekend’s collapse, when the only asset available to sell for hedge funds trying to vacate their yen carry trade positions was Bitcoin and crypto, the king of the cryptocurrencies has rebounded in fine style.
Up 16.5% since that $49,000 bottom, $BTC could even be staging a v-shaped recovery. Currently trading at just over $57,000, the $BTC price is battling hard with resistance at this level.
Possible $BTC rejection?
Source: TradingView
Zooming right into the short term time frame, it can be noted that the $BTC price is not only at horizontal resistance, but it is also at the downward-sloping trend line which began a
We współpracy z: https://cryptodaily.co.uk/2024/08/bitcoin-btc-battles-resistance-up-or-down-from-here
