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Since our last Bitcoin review Bitcoin Getting Ready For A Big Move! Watch This Level, the Bitcoin price has done exactly as we predicted, holding the $41,501 key support and then pushing higher.
Currently, Bitcoin has surged more than 10% since our last post, inching ever closer to the $52,618 key resistance level. This price level is very important for the Bitcoin bulls to break through and close above it in the coming days.
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Bitcoin Bullish Price Scenario
For the Bitcoin bullish price scenario, we need to see the Bitcoin price break and close above the $52,618 key resistance level. A price move like this could open the way for the Bitcoin price to climb back to its previous all-time highs.
Bitcoin Bearish Scenario
There is also a bearish price scenario for Bitcoin. And this involves the $52,618 key resistance level holding. This could see weakness coming into the Bitcoin price in the coming days.
Final Verdict!
It is important to wait for a price confirmation either to the upside or a price rejection to the downside before committing to any direction. This way you can avoid jumping into price fakeouts and low-probability trade setups.
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We also created a video below where we talked more in-depth about the patterns developing on the Bitcoin chat as well as key fundamental factors that might affect the Bitcoin price in the coming days.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With
