03.02.202113:12 Forex Analysis & Reviews: Bitcoin continues to rise in price

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As expected, Bitcoin continued to rise in price, breaking the first local target which is $ 35,860.55.

It was the level of $ 34,708.27 who held out as support. And now, the target is $ 37,351.03, which is what BTC reached last week, when Elon Musk provoked the market. This area is notable for the fact that a breakout could occur somewhere, but there is also a chance that price will turn down here and go back to its price range earlier.

The behavior of Bitcoin in the triangle will provide a clearer outlook for the medium-term. In particular, a break above will enable the quotes to reach all-time highs in BTC / USD.

Ekaterina Kiseleva
Analytical expert of InstaForex
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