BTCUSD Sets to Break a Diagonal Resistance as Price Resumes Its Uptrend

BTCUSD is set to break a three-month diagonal resistance as the price resumes its uptrend. In March 2023, a robust uptrend gripped the market as bullish investors surged in. This propelled BTCUSD to new highs. This upward momentum persisted for a month, culminating in a significant swing high at $31050.00.

 

However, after this peak, a swift decline ensued, leading BTCUSD into a bullish order block at the $24750.00 demand zone. Notably, the market exhibited resilience as buying pressure from this zone facilitated the formation of a higher high at $31862.00. The market’s gaze now fixates on the premium zone, hinting at a continued bullish trend shortly.

BTCUSD Key Levels

Demand Levels: $24750.00, $22655.00, $19569.00
Supply Levels: $28661.00, $31862.00, $36800.00

What are the Indicators Saying?

The Moving Average Period 18 recently crossed the Moving Average Period 40 as the bullish pressure kept driving the price upward. This upward trajectory was reinforced by the RSI (Relative Strength Index), indicating a bullish divergence and affirming the ongoing upward expansion. This expansion is poised to persist, with the MA Cross and RSI pointing towards further gains.

 

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