Bitcoin Technical Analysis. New Target!
Updated
Hello, guys!
Yestergay was a huge pump because of 1.5 billion investment in Bitcoin by Tesla. Now it has a great fundamentals to grow.
The price formed the ascending trend channel which was broken 10 hours ago. The was a huge growth and now there are difficulties to break through the R2 pivot ($48000). If the price is able to find support above it, the next target is R3 ($54000). If the rejection is the case and price is able to find support on the trend channel's upper band it is also the great sign of small reaccumulation before the growth continuation.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Yestergay was a huge pump because of 1.5 billion investment in Bitcoin by Tesla. Now it has a great fundamentals to grow.
The price formed the ascending trend channel which was broken 10 hours ago. The was a huge growth and now there are difficulties to break through the R2 pivot ($48000). If the price is able to find support above it, the next target is R3 ($54000). If the rejection is the case and price is able to find support on the trend channel's upper band it is also the great sign of small reaccumulation before the growth continuation.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Note
The price bounced off the R2 to the downside and faced with rejection twice to re-enter the ascending channel. The symmetric triangle is forming now, there is a high probability of the move above the R2 pivot. If the price is able to find support above R2 ($48000) it could be extremely bullish to reach R3 pivot ($54000).
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