Technical Analysis and Outlook:
During this week's trading session, the Bitcoin market demonstrated significant resilience, recovering from our Mean Support level at 113,000 and completing the Outer Coin Dip at 112,000. Current analysis also suggests that the cryptocurrency is attempting to retest the completed Outer Coin Rally at 122000 and the critical Key Resistance level at 120000. Conversely, on the downside, Bitcoin may seek to revisit the completed Outer Coin Dip at 112000, with the potential to extend toward the Mean Support level of 108000 before continuing its bullish trajectory.
During this week's trading session, the Bitcoin market demonstrated significant resilience, recovering from our Mean Support level at 113,000 and completing the Outer Coin Dip at 112,000. Current analysis also suggests that the cryptocurrency is attempting to retest the completed Outer Coin Rally at 122000 and the critical Key Resistance level at 120000. Conversely, on the downside, Bitcoin may seek to revisit the completed Outer Coin Dip at 112000, with the potential to extend toward the Mean Support level of 108000 before continuing its bullish trajectory.
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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.