Bitcoin is breaking out for the upside extension?
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Bitcoin is bouncing off the 30000Â long-term strong support and is testing the resistance 41500-42000 zone. A breakout above this resistance is the key for the long-term bullish extension and another swing high to a previously tested 261.8%Â 2013-2021 Fibonacci extension.
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On the weekly chart, we can see that there is no confirmation of a breakout above 42.925 although it was on a test. If we see a rejection here and a break below 41900 again, the instrument would stay in the 30000-42000 swing zone.
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On a daily chart, we can see that the Already a member? This article is so good, it’s for premium members only.
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