BTC Analysis: SUCCESS
Broken down-trends on M/W/D time frames, found support, attempting to move higher in the Monthly range
It seems as though BTC has broken the monthly, weekly, and daily downtrend, sending price up to test the $31745 weekly level.
We found support on the weekly/daily up trend, and continue to ladder up, attacking valleys above, indicating the continuation of the uptrend.
If we successfully re-attack the $31745 weekly level, I would suggest we move higher, aiming for the upper end of the monthly range at $34,322. On the Weekly chart you can see how the solid-purple level at $31,745 was attacked in early October which was our first indication of a continued up-trend — setting us up for the move above the weekly range.
Not shown on these charts is a potential rejection point at $32,933.33. I would be weary of this resistance. However, with enough momentum, and continued laddering up, we may not need to be concerned with this and could set sell targets for the monthly hold at $34,322.
UPDATE (10/23 6pm)
BTC has successfully reached the $34,322 monthly target. ✅
