Another weekly close above $30,000 means bitcoin is still primed to break through the all-important $31,000 resistance.
Bitcoin has more in the tank
Another week passes and bitcoin is still at the locked gate that provides a potential quick passage to $36,000 and beyond. This is the second major attempt at this resistance, and with more in the tank this time, bitcoin could do the business.
“More in the tank” points to the fact that momentum is on bitcoin’s side this time. When the king of the cryptocurrencies last came up against the $31,000 barrier it was on the back of a surge from $20,000, and all the momentum had evaporated by the time it reached the most important level.
Momentum indicators move higher
Currently bitcoin is at resistance and is moving sideways before potentially breaking through. On the longer time frame of the weekly, the Stochastic RSI (momentum indicator) is getting to around half way up, and heading higher – an extremely bullish signal.
Going into lower
We współpracy z: https://cryptodaily.co.uk/2023/07/bitcoin-has-momentum-on-its-side-this-time
