$BTC

Trends have reversed to Uptrend again after price price broke above $60K resistance and out of Symmetrical Triangle pattern, and it successfully retested that breakout level. It also broke through the $64.4K key level and 200-day moving average, and has reached $72K-$74K resistance zone. Now we look for the right entry opportunity in Uptrend. We wait for price to either 1) break above $74K to signal continuation of uptrend, or 2) pull back near $64K support area for a swing trade entry in Uptrend with +15% upside back to $72K-$74K. Stop Loss at $58K.

Pattern: Price is Approaching Resistance, which is a level where it could pause or reverse its recent advance, at least temporarily. Resistance is often a level where price got rejected in the past, or potentially prior Support level that was broken. (concept known as polarity). Once price breaks above resistance, it can advance higher to the next resistance level.

Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.

Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).

Support and Resistance: Nearest Support Zone is $56,500.00, then $50,000.00. Nearest Resistance Zone is $72,000.00.