Blocksmith Says: BTC Approaches Next Support Level

Bitcoin was released higher from the coil or volatility squeeze we have been following for the past week or so. Key support has held for now and the next level of interest is between US$32,970 and US$34,350, which represents key support this year.

The technical omens are positive for a break out and move higher through this level, but it must be cleared successfully and then act as a ledge before we can sensibly look up. The next higher level of interest above would be US$40,000 which is an even stronger level of support/resistance going all the way back to June 2021.