Bitcoin is showing some momentum accumulation with its weekly MACD (about to) turning positive.
It broke above the short term resistance (white horizontal line on the chart)
Based on the short term breakout structure, I believe the immediate target is likely to be $55000.
Fib retracement analysis suggest that if the momentum builds further, it could break out to $73000 level while making a new high along the way.
It broke above the short term resistance (white horizontal line on the chart)
Based on the short term breakout structure, I believe the immediate target is likely to be $55000.
Fib retracement analysis suggest that if the momentum builds further, it could break out to $73000 level while making a new high along the way.
