BTCUSD Goes Parabolic
Bitcoin has staged a major upside move over the Christmas weekend holiday, with the BTCUSD pair rallying above the $28,000 level. Technical analysis shows that the $30,000 level is the strongest form of technical resistance above the current all-time high. To the downside, traders may look to enter back into the bullish trend from around the $24,000 or $23,000 support areas.
The BTCUSD pair is only bullish while trading above the $24,000 level, key resistance is found at the $30,000 and the $31,000 levels.
If the BTCUSD pair trades below the $24,000 level, sellers may test the $23,000 and $22,400 levels.
Reprinted from ActionForex，the copyright all reserved by the original author.
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