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BTC sees a strong rally this past week

Bitcoin Technical Analysis Report

Over the weekend BTC was holding strong around the $47k mark. In fact, the asset has seen a strong rally, from $41-$47k. We have seen the asset close in the green over multiple trading sessions. BTC dominance is 42.3% and market capitalization is $890bn. 

At the time of writing, BTC is trading at $46,815.


BITCOIN after taking multiple support at the rising up trendline is showing good strength and the prices are in green for the seventh consecutive day. The asset was facing strong resistance at $45,500. However, The bulls have managed to beat the key level and the prices are trading above the horizontal trendline and the 200 Day Moving Average. If BTC sustains and closes above $45,500 then we can expect the prices to further rally up to $50,000 to $52,500.  The rising Moving Average and RSI at 68 indicate a good and positive sign for the asset.

Key Levels:

Support 2Support 1AssetResistance 1Resistance 2
$39,500$45,500BTC$52,500$60,000

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions rdor conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurre ncies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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