The price has room to rise to $33,445.
May that Bitcoin had fallen with strong bearish momentum after breaking down from a consolidating triangle chart pattern and entered what had historically been a very pivotal zone, from the support level at $28,607 to approximately $35k. I thought that if the price could get established below the support level at $28,607 it could quickly fall to $10k or even lower.
The price did get established below $28,607, but my call was not great as the price rebounded quite firmly and is now making a bullish consolidationI see Bitcoin’s recovery from the price area below $28,607 as technically significantIf the support level at $28,607 does not break down, I see the next likely price movement for Bitcoin as upwards to the next resistance level at $33,445.
I will be happy to take a long trade here if we get a retracement to $28,607 and a bullish bounce off that level.Top Forex Brokers
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