By Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 86960.00 (which stopped the previous minor impulse wave 1 in the middle of September).
Bitcoin reversed from key support level 82000.00
Likely to rise to resistance level 86960.00
Bitcoin cryptocurrency recently reversed up from the support area located between the key support level 82000.00 (former strong resistance from May and September, as can be seen from the daily Bitcoin chart below), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse 1 from the middle of September. The upward reversal from this support zone started the active short-term impulse wave 3 – that belongs to the intermediate impulse wave (3) from the middle of September.
Given the strong daily uptrend and the predominantly bullish crypto sentiment seen today, Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 86960.00 (which stopped the previous minor impulse wave 1 in the middle of September).
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