Bitcoin Technical Analysis Report
BTC held steady at $47k over the weekend. The asset has experienced a strong rally from $41 to $47k. Over multiple trading sessions, we have seen the asset close to the green. BTC dominance stands at 42.3%, and the market capitalization of $890bn is $890bn.
BTC trades at $46,815.
BITCOIN, after gaining multiple support at the rising trendline, is showing strong strength. The prices are now in green for the seventh day. The price of $45,500 was the resistance level for the asset. But, the bulls managed to overcome the key level and prices are trading above both the horizontal trendline as well as the 200-day moving average. If BTC continues to close above $45,500, then prices can continue to rally to $50,000 to $52,500. A rising Moving Average and RSI of 68 are positive signs for the asset. Key Levels:
Support 2Support 1AssetResistance 1Resistance 2$39,500$45,500BTC$52,500$60,000
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