Pro Charts: Crypto

Bitcoin Holds Bullish Probability Above This Level

Updated: Apr 22, 2024 | Published: Apr 07, 2024
Verified Investing
By Verified Investing
Bitcoin Holds Bullish Probability Above This Level

Bitcoin continues to hold its bullish probability with price trading above the key trend line shown in the chart. Upside resistance remains the all-time high just under $74,000.

Should Bitcoin break the key trend line around $66,000, a bearish probability takes over with downside support not seen until $52,000-$49,000.

Bitcoin is a risk asset, so the bigger question is; can it hold up with the S&P potentially breaking lower? Is the halving and institutional interest enough to keep price up?