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Thursday

21 January 2021

Bulls eye the $19.5K resistance but low volume keeps Bitcoin price sideways

Bulls eye the $19.5K resistance but low volume keeps Bitcoin price sideways


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On the daily and 4-hour timeframe traders will note that the price is still notching lower highs and higher lows, a sign that the price range is beginning to narrow.

Currently the price is still holding within the pennant trendline as support but a breakthrough the structure will require a high volume move as there is persistent overhead resistance at $19,500.

It is imporant to note that this move will require signifanct volume to avoid rejection in the $19,400-$19,500 resistance zone.

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cointelegraph.com
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