BTC Chart Alert April 6: Bitcoin Tests $69K Resistance – Is There Still Life in the Bulls?
Source: TradingView
The weekly time frame suggests that that breakout could be very close. If it takes place, we are going to have to wait until next week to see that the breakout confirms, and this could mean that the $BTC price comes back to retest the trendline.
As for targets, there is a horizontal resistance level at $84,600. Coincidentally (or not), this is also pretty much exactly where a big CME gap would close. This would certainly be a magnet for the price.
Around $90,000 is another big resistance level. If the price got above that, this could open the door to Bitcoin getting back to the previous highs.
At the bottom of the chart, the RSI displays how each time the indicator line broke through the downtrend, it led to huge upside gains in price. It’s still early in the week, but the indicator line is now showing quite prominently above the downtrend – an auspicious signal.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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