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Bitcoin: Retracement of price surge has consolidated above 50%
Dear Bitcoin traders,
After a recent meteoric rise of Bitcoin, recent retracement and consolidation has left us above 50% of the rally, indicating further bullish movement.
The plot above shows support and resistance lines to look out for in the near future with dashed lines for support and solid lines indicating support/resistance. For highest risk/reward, I recommend purchasing bitcoins while the price remains above 2371 yuan with potential upside of 30% or more on investment.
After a recent meteoric rise of Bitcoin, recent retracement and consolidation has left us above 50% of the rally, indicating further bullish movement.
The plot above shows support and resistance lines to look out for in the near future with dashed lines for support and solid lines indicating support/resistance. For highest risk/reward, I recommend purchasing bitcoins while the price remains above 2371 yuan with potential upside of 30% or more on investment.
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