$BTC Profit Target Done and It's Just Beginning?

16 Ara

BTCUSDT Take Profit Done and it's just a Begging?

In the stated case, the price could rise and test the $110,000 resistance level. Any more gains might send the price toward the $112,000 level.

Bitcoin price started another increase above the $100,000 resistance zone. BTC is up nearly 5% and it traded to a new all-time high above $106,400.
Bitcoin started a fresh surge above the $100,000 Zone.
The price is trading above $102,000 and the 100 hourly Simple moving average.

There is a connecting bulish trend line forming with support at $103,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $102,500 support zone. Bitcoin Price Rallies Again Bitcoin price formed a base and started a fresh increase above the $100,000 zone. There was a move above the $102,200 and $103,500 levels. The price even cleared the $104,000 level. A new all-time high was formed at $106,487 and the price is now consolidating gains.

It is slowly moving lower below the 23.6% Fib retracement level of the recent wave from the $99,250 swing low to the $106,487 high. Bitcoin price is now trading above $102,000 and the 100 hourly Simple moving average.

There is also a connecting bullish trend line forming with support at $103,400 on the hourly chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $99,250 swing low to the $106,487 high.

On the upside, the price could face resistance near the $105,500 level. The first key resistance is near the $106,500 level. A clear move above the $106,500 resistance might send the price higher. The next key resistance could be $108,000. A close above the $108,000 resistance might send the price further higher.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not available for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment.