Bitcoin $100K Warning: BTC/USD Testing Uptrend Resistance
Bitcoin has been pressing uptrend resistance into the 61.8% parallel for the past three weeks and we're looking for a reaction here. While the broader outlook remains constructive, the immediate advance may be vulnerable here near-term- Watch the weekly close.
Next topside objectives at 107,892 and 121,899-123,754
Initial support rests at the median-line (currently ~82,500) with broader bullish invalidation steady at the 2021 high / March high-close at 69,000-71,285.
Michael Boutros
Sr Technical Strategist with FOREX.com
Next topside objectives at 107,892 and 121,899-123,754
Initial support rests at the median-line (currently ~82,500) with broader bullish invalidation steady at the 2021 high / March high-close at 69,000-71,285.
Michael Boutros
Sr Technical Strategist with FOREX.com
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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.