Bitcoin is trending for 21% gains this week, rallying by $14,500 throughout the week. The price is well above the $75k resistance target, and I think BTC is likely to continue rallying this week. I have $93.9k as a key resistance target ahead. I think there’s likely to be a strong selloff at $93.9k and as of right now I’m thinking about opening some short positions at the yellow trendline.

Last week Bitcoin had an incredibly bullish rally, and the bullish price action continues as we enter a new week. Bitcoin is trading above $82k, and has already reached my second price target around $82,100. BTC has broken above the first $75.7k target with ease, I think there could be more resistance around $82.1k target. Over the next few hours and days I would monitor to see if BTC continues to hold above $82.1k. If BTC holds above $82.1k, I think we continue to rally towards $90k+.

BTC has rallied by $9,200 throughout the past daily candle. A new daily candle has just opened and BTC is trading near resistance at the yellow trendline around $91,800. I would monitor for a rejection at this price level, I think Bitcoin could start to form a peak around $91.8k.

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