Bitcoin Analysis | Daily Forecast & Potential pullback

10 Kas

Hi Traders!
From a technical point of view, the trend is bullish on the daily chart, at the same time, in the short term we do not exclude some pullback. That said, we have our TARGET 2 around 81.5k/83k and from this area some profit taking could start, thus triggering an expected pullback. We will follow Bitcoin in the next sessions looking for some Reversal Patterns on lower time frames (intraday chart).

Thanks For Watching!

10 Kas

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=> Later we will publish the resistance area on intraday chart (4H).

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11 Kas

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4H time frame:

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Shares of cryptocurrency and blockchain-related companies advance premarket as bitcoin
BTCUSD trades above $81,000 for the first time; BTC last at $81,414.

** Bitcoin soared recently on expectations that cryptocurrencies will boom in a favourable regulatory environment after the election of Donald Trump as U.S. president and pro-crypto candidates to Congress

** "His pledge to go all in on crypto has sent Bitcoin to fresh heady heights ... He's made an about-turn on supporting the industry and is now vowing to turn the U.S. into the crypto capital of the world," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

From a technical point of view, the bears are waiting for some Reversal Patterns on lower time frames.