Bitcoin broke out of its consolidation and is headed towards its ATH.
We have resistance at 59k, then psychological resistance at 60k. After that there is another resistance level at 61k, and if we break and close above it on the 4H chart I would expect a move back to the ATH and look for new ATH.
At this point, the most important thing that I want to see is a close above 59k on the 4H chart.
Targets are 76k (fib 1.618) and then 93.5k (fib 2.618). I would also watch 80k and 90k closely as psychological levels.
Major support area is at 55.5-56k and we wouldn't want to see a break and a close below it.
Any questions?
Good luck traders,
Remember to respect your rules
Habib
We have resistance at 59k, then psychological resistance at 60k. After that there is another resistance level at 61k, and if we break and close above it on the 4H chart I would expect a move back to the ATH and look for new ATH.
At this point, the most important thing that I want to see is a close above 59k on the 4H chart.
Targets are 76k (fib 1.618) and then 93.5k (fib 2.618). I would also watch 80k and 90k closely as psychological levels.
Major support area is at 55.5-56k and we wouldn't want to see a break and a close below it.
Any questions?
Good luck traders,
Remember to respect your rules
Habib