Bitcoin faces ‘ton’ of resistance after daily BTC price gains pass 5%

Source: Crypto Ed/XEyeing the chances of continued upside, however, Keith Alan, co-founder of on-chain tracking resource Material Indicators, warned that considerable resistance lay overhead in the type of numerous moving averages (MAs).”There is a load of technical resistance overhead starting with the 21-Day MA, a #DeathCross between the 50-Day and 200-Day MAs, and eventually, the 100-Day MA which has confluence with the variety high,” part of his newest commentary stated.”BTC/USD 1-hour chart with 21, 50, 100, 200-day MAs.

Source: Jelle/XFellow trader Crypto Ed went further, hoping for a trip to $28,000 as the supreme outcome on shorter timeframes, with another “sweep” of the range lows first.BTC/ USD annotated chart. Source: Crypto Ed/XEyeing the chances of continued upside, however, Keith Alan, co-founder of on-chain tracking resource Material Indicators, cautioned that significant resistance lay overhead in the form of various moving averages (MAs).”There is a ton of technical resistance overhead beginning with the 21-Day MA, a #DeathCross between the 200-Day and 50-day MAs, and ultimately, the 100-Day MA which has confluence with the variety high,” part of his newest commentary specified.”BTC/USD 1-hour chart with 21, 50, 100, 200-day MAs.