Well, it was a bit difficult, but Bitcoin finally recovered above 36k levels yesterday. However, what is clear from the price action is that it took even more gain for Ether to help Bitcoin move higher. Ether was back above $ 2200 yesterday afternoon, climbing to 2228. This move helped push Bitcoin to a session of 36,622 so far, but it may not be over yet. Of course a lot could, and likely will depend on how Ether trades, but further recovery above 35k may not be headed towards the next higher resistance level.
However yesterday despite the bad news from Binance in the UK, we had the daily break of the bearish trend line. This should be a good sign.
Let's also see the 4-hour chart:
He too is positioned above the trend line for the moment, I hope he will act as a support.
However for today's operation:
Our pivot is located at 35767
Foreseeable scenario: As long as the resistance at 35767 holds, the bearish scenario will prevail.
Alternative scenario: exceeding 35767 would lead to an extension towards 37820
Analysis: The RSI stands below 30 points. The MACD is negative and hovering below its moving average. The setting is negative. Observe that the volumes have been on the rise for a few days.
Supports and resistance:
37820 **
37054 *
35767 **
35262
34870 (last trade)
33210
32444 **
31678 *
30913 **
graphic from tredingview.com
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