Reading Time: < 1 minute

Over the last few days, it was possible to observe a slight uptrend in the bitcoin price, which in graphical analysis can be seen in the figure of an ascending triangle.

The ascending triangle is formed by a bullish line, which indicates growing buying pressure, and a resistance line, which represents a selling force that prevents disruption up the barrier.

Even though it is still embryonic, this bullish movement increases expectations in the short term that breaking this barrier will happen. For this, however, the analyst team at Transfero considers that it would be necessary for the price to close above US$21,750 in the coming days.

On the other hand, it is essential to note that despite the slight uptrend, volumes are behaving in a decreasing manner, and this is a classic sign, according to technical analysis, that this rising trend can be reversed, which would indicate a break of the bullish line. In this case, the bitcoin price could stay below the US$19,667 support, representing the last major All-Time High cycle that occurred in 2017.

Trade bitcoin and other crypto assets at Transfero Crypto with deposit and withdrawal in Brazilian Reais.