Bitcoin right below resistance, potential for bullish breakout!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is seeing major resistance at 11694 ( Fibonacci retracement , Fibonacci extension , horizontal swing high resistance) which needs to be broken to open a potential rise to 12985 resistance ( Fibonacci retracement , horizontal overlap resistance). It’s important to note that we’ve seen a bullish exit of our long term descending resistance-turned-support line too signaling a change in momentum from bearish to bullish . We’re also holding really well above our Ichimoku cloud support.

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This analysis is provided as general market commentary and does not constitute investment advice.
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