Crypto trader and analyst Crypto Rover believes that Bitcoin (BTC)’s break above the $27,200 level is close to the end of the week.
He made this conclusion when a similar wedge formed on the 3-day BTC chart. According to CoinMarketCap, on May 20, BTC added 0.8% per day, so the price of bitcoin turned slightly above the key $27,000-$27,100 level.
This increased the weekly strength of the leading cryptocurrency to +1.1%. Crypto Rover’s name-dropping may trigger a rally as a bullish flag is introduced on the daily BTC chart.
Yesterday, the daily RSI line is targeting a cross higher than the daily RSI SMA line, Also, the daily RSI is in the oversold zone. If these two lines converge, BTC can break above the $27,000 mark, up to $27,723.73.
On the other hand, if the price of BTC breaks below another support level at $26,300, it will fall to another support level of around $24,700.