Hello, dear members of LeoFinance!
Probably, we all constantly check the price chart of Bitcoin in order to see if it is already above the $20K mark. However, it seems that BTC/USD is facing a solid resistance at that level because it still cannot reach it, although having been fluctuating slightly below it for quite some time.
So, I am just theoretically considering the following scenario (the blue line in the 1-hour chart):
The price chart of BTC/USD may drop to the lower line of the Ascending Wedge and receive double support - from the lower line of the wedge, and from the 30-day Moving Average. Then the price may bounce off and hit the $20K mark.
Once again, I want to outline this is just a theoretical scenario.
As of the time of writing, one Bitcoin costs $18,857.89 on Bitstamp exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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