Bitcoin cryptocurrency can be expected to rise further to the next resistance level 100000.00 (former strong support from the start of November).

 

  • Bitcoin broke resistance level 95000.00
  • Likely to rise to resistance level 100000.00

Bitcoin cryptocurrency today broke through the resistance zone between the round resistance level 95000.00 (former monthly high from the middle of December, as can be seen from the daily Bitcoin chart below) and the 38.2% Fibonacci correction of the downward impulse from October. The breakout of this resistance zone accelerated the active short-term impulse wave iii, which belongs to the higher order impulse wave 3 from the middle of December – which in term is a part of the intermediate impulse wave (5) from November.

Given the strongly bullish sentiment seen across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise further to the next resistance level 100000.00 (former strong support from the start of November).

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.