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Bitcoin is trading around $89,797 within the uptrend channel formed since November 24, rebounding after reaching the bottom of the uptrend channel at the 2/8 Murray line located at $87,500.
Bitcoin could continue its rise in the coming days until it reaches the top of the uptrend channel around $98,700.
The key would be to wait for the Bitcoin price to consolidate above $90,000 and above the 21 SMA located at 90,467.
If this scenario occurs, we could look for opportunities to open long positions, with targets at $93,750 and finally at $98,000.
On the contrary, if Bitcoin breaks sharply and consolidates below the uptrend channel and below $87,000, we could expect the price to reach the November 21 low around $80,000.
Our outlook for Bitcoin will be bullish for the coming days if the price consolidates above $90,000. Conversely, below this zone, we will look for opportunities to continue selling with targets at $87,500 and $81,250 around the 1/8 of Murray.
¡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.
