Bitcoin - Pending Breakout

10 mar

Bitcoin is presently trading around its previous resistance level and has already surpassed its previous all-time high. This consolidation around the resistance zone is crucial for Bitcoin to gather enough energy to break out from the resistance. Once the price breaks out, I expect it to easily reach $75,000, then retrace back to support (the previous resistance of $70,000), and then bounce back again. Overall, Bitcoin is appearing bullish. While there is a chance of Bitcoin being rejected from the resistance, the likelihood of that happening is very slim.

Stay tuned for more updates.

Best Regards,
VectorAlgo