While the first cryptocurrency is traded above $ 100,000, optimism is maintained on the market. Potential levels of the “bull -din” phase resistance are located approximately between $ 140,000 and $ 200,000, the analyst at Coindesk Omkar Godbell suggested.
He suggested drawing a line through the peaks of growth phases of 2017 and 2021 – about $ 20,000 and $ 70,000, respectively. Thus, “it is possible to identify the potential zone for the occurrence of sellers,” explained the year.
At the time of writing, the trend line indicates resistance in the area of $ 115 300:
The same diagonal limited growth in December and January. During the April correction, the price fell to $ 75,000.
“Logarithmic” resistance by $ 220,000
Years emphasized that the above schedule is linear.
According to him, the resistance levels in this representation may not be so accurate. Such a schedule does not smooth out significant price fluctuations, as the logarithmic does. The latter allows you to more accurately build trend lines and determine the key resistance zones, the year is sure.
With this approach, the line passing through the peaks of 2017 and 2021 indicates the resistance zone in the area of $ 223,000 instead of $ 115,000. According to the analyst, this level better reflects the exponential nature of the growth of bitcoin in past market cycles. Recall that the analyst Cryptoquant Axel Adler – the younger predicted the “restrained” Bitcoin growth to $ 160,000.
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Source: Cryptocurrency
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