BTC Price Hits $69K Resistance in Last-Gasp Rally: Sustainable Momentum or Last Dice Throw? (April 1 Update)
Source: TradingView
The weekly chart gives an intriguing view of the situation. Either the $BTC price is going to break back above the $69K major resistance and through the bear market downtrend, or the bulls are going to fail here and the price will drop out of the bottom of the bear flag and head to the next big level to the downside.
The rest of this week really is crucial. $66K and the bottom of the bear flag have to hold. The Stochastic RSI is showing that the indicators do seem to be rolling over, while the RSI indicator is poking its head through the downtrend line. Every time previously that the downtrend broke, this led to a big upside rally.
These mixed signals add to the complexity of the decisions that retail, as well as institutional investors, might need to make. It has to be remembered that the bears are still in control. Will this still be the case at the end of this week?
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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