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Bitcoin bulls have managed to recapture the $50,000 price level after making a low close to $41,000 over the weekend. Volatility has spiked once again as price plummeted during the weekend only to find support around $40,000 and the 61.8% Fibonacci retracement which was our 2nd target.
Resistance is now found at $53,000 which was previously key support. Bulls need to break above this level in order to continue higher. Price has made a long lower tail on Saturday implying support is strong above $40,000. Bears need to break below $41,000 in order for prices to fall further towards $30,000. On the other hand bulls need to start making higher highs and higher lows. For now price has formed a higher low at $41,642 relative to the $29,000 low back in July. Longer-term trend remains bullish as price continues making higher lows and as long as price is above $29,000.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
