Bitcoin Bounce is Expected

BTC/USD Technical Analysis

• BTC/USD is in uptrend
• The price needs further bullish momentum
• 65000 is expected
• Daily timeframe is bullish

DAILY CHART BTC/USD

1. Order block
2. Ascending trend line support
3. High
4. Bounce zone
5. Target

The price is currently bouncing from the zone. We could see a continuation up if the market gets further bullish momentum. M L3 is the level to break. Investors are looking for BTC/USD as the new haven as GOLD has lost some of it’s safe haven value lately. Riskier assets are meant also to be anti government as faith in govts has been lost. We expect crypto markets to develop fully and the pioneer Bitcoin has the potential for 300.000 USD which could come in time. At this point the potential to go and retest 52655 is high. The break of that level should be targeting 61198 and 65469.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad