The Bitcoin price has just broken and retested the $52,618 resistance, turning that level into key support for Bitcoin and pushing the cryptocurrency price higher.
The next price target is the current ATH at $58,274. This price level might sever as a strong resistance for the Bitcoin price in the coming days.
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Bullish Price Scenario
For the Bitcoin bullish price scenario, we need to see the Bitcoin price breakthrough and close above the $58,274 resistance.
This $58,274 price level break will open the way for a much larger rally in price, pushing Bitcoin even higher as time goes by.
Bearish Price Scenario
For the Bitcoin bearish scenario, we need to see the $58,274 resistance level hold. This price level could serve as a strong top for Bitcoin sellers to come back into the market and push Bitcoin back down.
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We also created a video below where we talked more in-depth about the patterns developing on the Bitcoin and Altcoin chat as well as key fundamental factors that might affect the Bitcoin price in the coming days.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my trading bitcoins for beginners Guide. You can also check my top safest crypto exchange list to trade with.