Bitcoin cryptocurrency can be expected to rise to the next resistance level 63750.00 (former strong support from March and February).
- Bitcoin reversed from round support level 60000.00
- Likely to rise to resistance level 63750.00
Bitcoin cryptocurrency today reversed up from the support zone between the major round support level 60000.00 (which stopped the sharp downward impulse wave (1) at the start of February, as can be seen from the daily Bitcoin chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped earlier short-term impulse wave 3 – which belongs to the intermediate impulse wave (3) from the start of May.
Given the strength of the support level 60000.00 and the oversold reading on the daily Stochastic indicator, Bitcoin cryptocurrency can be expected to rise to the next resistance level 63750.00 (former strong support from March and February).
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