© Reuters
Investing.com – On Tuesday, Le managed to regain the key $30,000 threshold that was broken on Monday.
At the time of writing, the is indeed showing at $30,275, up 2.7% over 24 hours and 1% over a week.
However, the crypto is still showing a hesitant near-term profile, which could make the downside more likely than the upside on BTC on Wednesday.
As seen in the image below, Bitcoin’s fall from the start of the week was halted by the $29,000/$29,200 support:
This threshold remains a key support, the break of which would constitute a negative signal, which would put in sight the pivot of the old range towards $28,000, before a support zone formed by the $27,000 threshold, from the 50-day MA to $26,636 and $26,500 support.
Then, the $25,000 zone would come into play. Below this threshold, we can consider that the underlying trend of Bitcoin has turned downward.
If BTC continues to rise, last week’s high near $30,900 and the $31,000 threshold will form the first significant hurdle to consider.
However, it should be noted that the hesitation around $30,000 is, from a technical point of view, the most likely scenario in the short term.
Finally, with regard to other cryptocurrencies, it should be noted that most are displayed in the green compared to yesterday this Wednesday morning. However, it is interesting to note that over a week, Bitcoin posted the worst performance of the top 10 cryptos, with a gain limited to +1%.
It is the which shows the strongest rise over this horizon, with an increase of more than 14%, followed by , which gains more than 12% over 7 days.