As the crypto markets are heading towards the end of the first fortnight, the tokens are becoming more and more volatile. The bitcoin price is experiencing equal pressure on either side at frequent intervals, keeping the bullish and the bearish claims alive. While the bulls seem to have prevented excessive drain by initiating a rise above $58,000, the bears remain vigilant after the latest rise. Therefore, until the BTC price seals the pivotal resistance, every rise may turn into another lower low. 

The star token has been stuck within a descending parallel channel since the start of the year; the latest rise is expected to elevate the levels above the range. Moreover, the rising RSI is substantiating the bullish claim of reaching $59,000. Unfortunately, this move may consume some extra time as the BTC price has yet to secure a pivotal resistance. Meanwhile, one of the well-known analysts, Michael van de Poppe, says, ‘No party time yet’ 

The analyst refers to the above chart, highlights two major support zones, one around $55,000 and another around $52,500 and believes the price may drop if there are no events. The bears squeezed the liquidity at around $56,000 multiple times and hence these regions have become more favorable to them. Hence, the price may break down the range if the price tests these support levels for another time. 

With this, the price is expected to go deeper, testing the lower support zone, which may trigger a strong rebound. The Bitcoin (BTC) price is displaying some strong upward moves but the real party may begin once the token settles above $58,000 and closes the daily trade above $58,300. 

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed