The BTC cryptocurrency, in 1 hour charts, is above the SMA of 21 and above the 6/8 of Murray, both levels this offer bullish force for now.
As the 6/8 murray is a strong support zone, which is around $ 31,250, we expect it to keep the price higher until the resistance zone of $ 34,375.
Given that the eagle is giving a bullish signal and we have the SMA of 21 below the current price, our recommendation is to buy at these current price levels.
In the area of $ 34375, in 4-hour charts there is a channel with a bearish trend, we hope that it will find a new attempt to break at this level.
At the $ 29300 level we see that it has left a double bottom, which indicates that we could be facing a new bullish movement in the short term.
The market sentiment for BTC shows that there is a 78% percentage of traders who are selling, which is a sign that an upward movement could occur in the short term to the levels of $ 34375.
Support And Resistance Levels For January 28 - 29, 2021
Resistance (1) $32, 839
Resistance (2) $34, 707
Resistance (3) $36, 514
Support (1) $31,031
Support (2) $29,307
Support (3) $27, 946
