Technical Analysis and Outlook:
In last week's trading session, the Bitcoin market experienced wild gyrations between Mean Support 106500 and the critical Mean Resistance level of 113500, as the price is currently actively fluctuating between the two.
Current market analysis indicates an initial recovery towards the Mean Resistance level of 113500, with the potential for further upward movement to the Mean Resistance level of 116000. However, it is crucial to acknowledge the possibility of a reversal at these resistance levels, which could extend to continue the Progressive In Force Retracement trend.
In last week's trading session, the Bitcoin market experienced wild gyrations between Mean Support 106500 and the critical Mean Resistance level of 113500, as the price is currently actively fluctuating between the two.
Current market analysis indicates an initial recovery towards the Mean Resistance level of 113500, with the potential for further upward movement to the Mean Resistance level of 116000. However, it is crucial to acknowledge the possibility of a reversal at these resistance levels, which could extend to continue the Progressive In Force Retracement trend.
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.
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.