Black line- resistance
Blue line- support
Bitcoin is breaking out above the $32,000 resistance. Bitcoin is trading around $35,000 price level as price is making new higher highs. Recent price action is bullish as the RSI is making new higher highs as well. If bulls manage to recapture the $36,000 level, then we should expect Bitcoin to continue higher towards the $42,000 price level where we find the next important resistance level. At $48,600 we find the most important resistance level that if broken, it will have bullish implications for the longer-term trend. Near term trend is controlled by bulls.
