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Bitcoin has resumed its uptrend against $42,000 lows as bulls are just a few points away from $52,000 interim resistance. A break above would open the door to push through $60,000 mark, the next in-line resistance. The crypto remains on track to push through fresh all-time highs through $75,000 and up to $125,000 going forward.
Bitcoin had earlier dropped through $42,000 mark, which was close to the Fibonacci 0.618 retracement of the entire rally between $28,800 and $67,000 levels respectively. After finding support, bulls managed to push through $52,000 mark before pulling back. Furthermore, bears dragged lower towards $45,500 mark before finding support again (fibonacci 0.618 retracement of the recent upswing).
After bouncing off the golden ratio phi twice in succession, Bitcoin now remains poised to push through $75,000 high in the next several weeks. Only a drop below $42,000 and subsequently $40,000 will change the intermediate trend to bearish.
Potential rally through $75,000 against $40,000.
Good luck!
¡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.
