- Bitcoin reversed from a support area
- Likely to rise to resistance level 122770.00
Bitcoin cryptocurrency recently reversed up from the support area located between the key support level 115000.00 and the support trendline of the daily up channel from June.
This support area was further strengthened by the 38.2% Fibonacci correction of the sharp upward impulse from July.
Given the clear daily uptrend and the strongly bullish sentiment seen across cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 122770.00 (top of the previous impulse wave i).
- Likely to rise to resistance level 122770.00
Bitcoin cryptocurrency recently reversed up from the support area located between the key support level 115000.00 and the support trendline of the daily up channel from June.
This support area was further strengthened by the 38.2% Fibonacci correction of the sharp upward impulse from July.
Given the clear daily uptrend and the strongly bullish sentiment seen across cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 122770.00 (top of the previous impulse wave i).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.