Technical Analysis and Outlook:
Bitcoin prices retested and broke out of the completed Inner Coin Rally at 75,500 and Key Resistance levels of 75,000, and completed the Extended #1 Inner Coin Rally at 78,500.
Progressive market analysis suggests strong potential for an Interim in-Force Pullback to Mean Support 74,000, with a possible extension to Mean Support 70,700.
When all is said and done, a hefty rebound from Mean Support at 74,000 and/or 70,700 will likely be initiated after achieving the initial price-down targets.
Bitcoin prices retested and broke out of the completed Inner Coin Rally at 75,500 and Key Resistance levels of 75,000, and completed the Extended #1 Inner Coin Rally at 78,500.
Progressive market analysis suggests strong potential for an Interim in-Force Pullback to Mean Support 74,000, with a possible extension to Mean Support 70,700.
When all is said and done, a hefty rebound from Mean Support at 74,000 and/or 70,700 will likely be initiated after achieving the initial price-down targets.
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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.