Last week Bitcoin jumped quite a bit, forming the tower candlestick. This candlestick is strongly supported at the level of 16000. The price of Bitcoin also broke the weekly downtrend and got back to the supporting level of 16000. Next, Bitcoin has tested the broken trendline. The asset has been remaining in a very narrow range for eight weeks in a row, preparing for the next breakout.
Should Bitcoin manage to break the level of 21000, it is likely to jump. Considering the width of the broken trend and the depth of Bitcoin’s drop, it is safe to say that the price of Bitcoin might potentially hit the level of 40000. Although to get the required momentum for the rise, the asset will have to break two more resistances at levels 25500 and 30000. So, let’s observe what will happen next.
The price of the currency pair EUR/USD broke the resistance at the level of 1.0785. Currently, the asset is trying to remain above the broken line. Should the asset’s price remain the same at the beginning of the next trading week, the currency pair might keep going up.
Silver is repeatedly approaching the resistance at the level of 24.75 although it’s not clear just yet what is about to happen next. It would be wise to follow the price movements next to this level to predict the asset’s next move. Although gold is going up so silver might follow this trend as well.