About a week ago I posted about Bitcoin seeking support and how the 27K level could come into play.
The hope was 27K would confirm as support after being the bottom end of that tight range bitcoin was in last month.
We indeed saw that level come into play as bitcoin held and then rallied back up to 29K. That is positive price action.
So, where do we go from here? Well, the good news is we are sitting in this upper range and near the highs for the year.
32K is a level I have been eyeing on the upside. Price failed to breach it on the last push higher. That is the level I believe bitcoin needs to establish above before we can get excited of seeing bitcoin make a bigger move.
Above 32K there is definitely a nice bit of real estate on the upside before any major resistance comes in.
Either way, it is nice to see positive price action on a whole of late.
