Bitcoin Price Analysis: Will The Price Move Above 42K This Time?

Posted by Klejdi Cuni on

Technical Analysis:
From the previous analysis below the price showed a strong face
support areas close 37.5K

As expected from there the price rose again higher up to 42K.

In fact, the price is testing the 42K structure again for the second time.
The last time the price tested 42K, it pushed it back down indicating it was not a weak area of resistance.

Will the price go over 42 thousand this time?
If this move is to occur, the price should continue to move above up to 45 thousand corresponding to the next area of resistance.

Also, the higher time frame analysis supports the idea that BTC is on track to start the bullish movement.

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