Bitcoin (BTC/USD) Daily Chart Analysis For October 6, 2021
Technical Analysis and Outlook:
Bitcoin has been moving upwards since Sept 21 by breaking out from a Key Sup $40,700 accumulation line. The next target is Mean Res $52,600 with an extension to Inner Coin Rally $54,550, with continuance to Key Res $63,750.
Bitcoin has been moving upwards since Sept 21 by breaking out from a Key Sup $40,700 accumulation line. The next target is Mean Res $52,600 with an extension to Inner Coin Rally $54,550, with continuance to Key Res $63,750.
Commentaire:
Bitcoin has rocketed to our designated resistance target and Re-Bound Extension zone marked as an Inner Coin Rally target. Currently, the price is trading around $55,000 - awaiting for end the move confirmation. Short-term, long-aggressive traders may exit, or shorts may enter here and exercise buyback at a Mean Sup $47,750. Long-term holders stay put to the following designated target Key Res $63,750.
Commentaire:
The Bitcoin is currently in a downtrend - leg down as "Cross-Check Target" to Mean Sup $53,890: An ample buying opportunity around newly created Mean Sup $53,890 for resurgence to retest Mean Res $57,650 and follow through to Inner Coin Rally $59,180 mark.