Technical Analysis and Outlook:
Bitcoin prices have significantly exceeded our previously completed Interim Rally 95000, thereby positioning the cryptocurrency to aim for the forthcoming Interim Coin Rally marked at 100000. Nevertheless, current price movements indicate a potential retracement toward the Mean Support level at 94000, with a further possible decline likely toward an additional Mean Support target at 91800. It is imperative to recognize the potential for upward momentum to develop from a retest of either support level, as this could facilitate a trajectory toward the next Interim Coin Rally at $100,000 and beyond.
Bitcoin prices have significantly exceeded our previously completed Interim Rally 95000, thereby positioning the cryptocurrency to aim for the forthcoming Interim Coin Rally marked at 100000. Nevertheless, current price movements indicate a potential retracement toward the Mean Support level at 94000, with a further possible decline likely toward an additional Mean Support target at 91800. It is imperative to recognize the potential for upward momentum to develop from a retest of either support level, as this could facilitate a trajectory toward the next Interim Coin Rally at $100,000 and beyond.
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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.