BITCOIN → Correction before further flight to 112-120K for BINANCE:BTCUSD by RLinda

BITCOIN → Correction before further flight to 112-120K

surprises everyone again with this week's rally. After retesting the panic and risk zone, when many started selling, the price turned around and flew 18% in a few days....

One week old idea: BITCOIN → Retest of key support. What can happen?

There could be several factors behind the gains that have been forged over the past 3 days:
New reports point to increased activity from major players, including institutional investors,
Trump's upcoming inauguration, the crypto community is expecting the new president to take active steps. And overall, the bullish three-day run is a combination of macroeconomic factors, technical breakdown and fundamental confidence in the future of cryptocurrencies. All of this created a strong bullish momentum that attracted new buyers and increased institutional investor interest.
From a technical perspective, the 100K and 102.5K area plays an important role for me. If the bulls can keep the price above this zone, the growth will continue in the medium term.

Support levels: 102.5K, 100K
Resistance levels: 103.6K, 105.7K, 107.5K

Technically, at the moment, a pre-breakdown situation is forming on H1 against the support at 102.8. Accordingly, bitcoin may form a correction to both 100K and 97.5K. But, if the fall will quickly recover or the bulls will keep the defense above 100-102.5K, then further we can count on growth up to 108-112K.

Regards R. Linda!

Trade active

Bitcoin is consolidating in the buying zone above the support level 102.5 - 103.6. The bullish potential is quite high

7 days ago

Trade closed: target reached

Target achieved
In addition, bitcoin updated ATH

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

🧿Web: rlinda.com

Also on:

RLinda

Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.