Technical Analysis and Outlook:
Bitcoin experienced a significant rally in this week's trading session, breaking through all identified Mean Resistance levels: 86400, 90600, and 94500. This breakout led to the completion of the Interim Coin Rally at 88400. As a result, the newest identified Interim Coin Rally at 95000 has also been completed, indicating a possible pullback to the Mean Support at 92000 and a further decline potential toward an additional Mean Support target at 88500. However, it's important to recognize the chance of upward momentum emerging from a retest of the completed Interim Coin Rally at 95000, which could advance toward the next Interim Coin Rally at 100000.
Bitcoin experienced a significant rally in this week's trading session, breaking through all identified Mean Resistance levels: 86400, 90600, and 94500. This breakout led to the completion of the Interim Coin Rally at 88400. As a result, the newest identified Interim Coin Rally at 95000 has also been completed, indicating a possible pullback to the Mean Support at 92000 and a further decline potential toward an additional Mean Support target at 88500. However, it's important to recognize the chance of upward momentum emerging from a retest of the completed Interim Coin Rally at 95000, which could advance toward the next Interim Coin Rally at 100000.
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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.