Bitcoin can be expected to rise further to the next resistance level 81560.00 – which has been repeatedly reversing the price form May and the target price for the completion of the active minor wave b.
- Bitcoin reversed from support level 76000.00
- Likely to rise to resistance level 81560.00
Bitcoin cryptocurrency recently reversed up from the support zone set at the intersection of the pivotal support level 76000.00 (which has been reversing the price from the middle of August, as can be seen from the daily Bitcoin chart below), lower daily Bollinger Band and the 38.2% Fibonacci correction of the earlier upward impulse from August. The upward reversal from the support level 76000.00 started the active minor wave b that belongs to the C-wave of the intermediate ABC correction 2 from the start of September.
Given the clear daily uptrend, the strength of the nearby support level 76000.00 and the bullish sentiment that can be seen across the crypto markets today , Bitcoin cryptocurrency can be expected to rise further to the next resistance level 81560.00 – which has been repeatedly reversing the price form May and the target price for the completion of the active minor wave b.
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