Bitcoin (BTC) Bulls Target $53,000 Levels as Risk Appetite Returns
This Morning
At the time of writing, Bitcoin was up by 0.14% to $48,968. A mixed start to the day saw Bitcoin fall to an early morning low $48,786 before rising to a high $48,985.
At the time of writing, Bitcoin was up by 0.14% to $48,968. A mixed start to the day saw Bitcoin fall to an early morning low $48,786 before rising to a high $48,985.
Elsewhere, it was a bullish start to the day.
At the time of writing, Crypto.com Coin was up by 7.84% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $48,340 pivot to bring the first major resistance level at $50,081 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $49,520.
Bitcoin would need to avoid the $48,340 pivot to bring the first major resistance level at $50,081 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $49,520.
Barring an extended crypto rally, the first major resistance level would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at the 23.6% FIB of $53,628 before any pullback. The second major resistance level sits at $51,260.
A fall through the $48,340 pivot would bring the first major support level at $47,161 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level sits at $45,420.
Part of the content is taken from Yahoo.
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