R.Linda Trading - forecast

Trading signals for BTCUSD → The price is held back by resistance 30340

CRYPTO forecast
BTCUSD - an uptrend is forming on the chart within the price channel, but after a false breakdown of resistance, the price is not yet ready for a quick fall.

The price forms quite strong support area 27900-27000, which is quite actively defended by the bulls. The moving averages are acting as support, indicating an active trend. The price makes a false break-up of the MA-50 and goes back to the resistance for the next retest.

On the monthly chart, the price consolidates around the key resistance at 30430 for 2-3 months. There is no reaction to a false breakout.

Locally the price is squeezed in consolidation between channel resistance and 27000-27500 support level. I think another retest of the resistance could be successful.

Strong support: 27900, 27000.

Strong resistance: 30000, rising resistance line, 30430

I expect the end of formation of pre-breakdown consolidation with successful attempt to break through the upper border of the range, followed by the price growth to 32376, 36000