Bitcoin price corrected lower from the $35,000 resistance but now seeks a 10% surge. Key levels, including $35,000 and $33,250, will determine its direction.
Bitcoin recently corrected from the $35,000 resistance, dropping below $34,000. However, it found support around $33,250 and has since started a fresh upward move. Currently trading above $34,000 and the 100-hour Simple Moving Average, a major bullish trend line is forming around $34,220.
On the upside, immediate resistance is at $34,750, followed by $35,000, with a main resistance near $35,200. A break above this barrier may trigger another surge, possibly reaching $36,500 and even $38,000 in the coming days.
Should Bitcoin fail to surpass the $35,000 resistance, it may experience another decline, with initial support at $34,200 and the trend line.
The major support level rests at $33,250. A breach of this support could lead to further losses, potentially pushing the price down to $31,500 in the coming sessions.