Bitcoin printed a double-bottom pattern yesterday after the US Fed delivered a 0.75% rate hike, infusing notable volatility in the cryptocurrency. As is typical in technical analysis, double-bottom patterns are followed by bullish rebounds.
That said, BTC is already in the process of a rebound, with the benchmark cryptocurrency rallying by over 5% today. I believe there’s a likelihood of the regained bullish momentum to continue over the coming days, especially as Fed rate-induced uncertainty no longer rules the market. Are we going to see $21K this week?
Meanwhile, my resistance levels are at $19,600, $20,000, and $20,500, and my key support levels are at $19,000, $18,500, and $18,000.
Total Market Capitalization: $930.6 billion
Bitcoin Market Capitalization: $365.6 billion
Bitcoin Dominance: 39.2%
Market Rank: #1
That said, BTC is already in the process of a rebound, with the benchmark cryptocurrency rallying by over 5% today. I believe there’s a likelihood of the regained bullish momentum to continue over the coming days, especially as Fed rate-induced uncertainty no longer rules the market. Are we going to see $21K this week?
Meanwhile, my resistance levels are at $19,600, $20,000, and $20,500, and my key support levels are at $19,000, $18,500, and $18,000.
Total Market Capitalization: $930.6 billion
Bitcoin Market Capitalization: $365.6 billion
Bitcoin Dominance: 39.2%
Market Rank: #1