KQMarkets

Bitcoin - Still Long Upside Potential

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We still see Bitcoin moving higher and believe it has upside potential as it can be seen as a hedge to the economic potential economic disaster caused by the coronavirus. However, in the first instance we would want the cryptocurrency to consolidate above key resistance at $7091 before the targeting the next resistance level at around $9000 and are encouraged by it's stability over the past few trading sessions.