Bitcoin registered an amazing rally amid geopolitical tensions. It seems that BTC/USD is used as a safe haven or actually, the crypto market could become very attractive after the sanctions imposed by the EU, the US, etc. BTC/USD is trading at 41,967.50 at the time of writing, far above 37,015.74 yesterday's low.
The price of Bitcoin increased by 13.39% from yesterday's low to today's high of 41,971. BTC/USD registered a 22.28% growth from 34,324.05 Thursday's low.
BTC/USD Strong Rally!
BTC/USD has finally managed to pass above the first warning line (wl1) of the descending pitchfork. Now, it has reached 41,967.50 static resistance. After its aggressive breakout through 40,000 psychological level and above the warning line (wl1), we cannot exclude a temporary decline.
The price of Bitcoin could come back down to test and retest the broken levels before jumping higher.
BTC/USD Outlook!
The current breakout above 40,330.99 former high and through the weekly R1 is seen as a potential long opportunity. Still, a great buying signal could appear if the BTC/USD comes back to retest the 40,000 psychological level and the broken warning line (wl1).
