Is $btc Bitcoin ready for new price Discovery?
Zaktualizowano
Bitcoin's price action is currently outside it's falling channel! Will it rise?
Current Price: $69400
In my previous analysis of bitcoin's break out of the channel, there were two possibilities:
1. Breakout is actually a fake out and bitcoin will further break down to lower supports 64k, 60k. This has not happened! The next possibility is
2. Bitcoin is retesting channel support to attempt higher prices up to 79k (price discovery).
This is looking like a likely possibility as price has remained above the retest area around 67k
Key resistances above: 69800, 72900. then price discovery from 76400, 79200, 82200, 84600
Invalidation below 67k
Current Price: $69400
In my previous analysis of bitcoin's break out of the channel, there were two possibilities:
1. Breakout is actually a fake out and bitcoin will further break down to lower supports 64k, 60k. This has not happened! The next possibility is
2. Bitcoin is retesting channel support to attempt higher prices up to 79k (price discovery).
This is looking like a likely possibility as price has remained above the retest area around 67k
Key resistances above: 69800, 72900. then price discovery from 76400, 79200, 82200, 84600
Invalidation below 67k
Uwaga
Keep an eye on the 67k area...Bitcoin needs to stay above this key area for higher prices. A break below will retest 64k
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