Tuesday, December 10, 2024 5:20 PM EST
Image Source: Pixabay
A simple observation on Bitcoin reveals that it's floating on air following its parabolic breakout above 70,000 during the week of November 4, as shown on the following weekly chart.
A break and hold below 90,000 could see a retest of major support at 70,000, or, at least, a pullback from its high of 103,990 to around 86,995 (50% of the difference between 103,990 & 70,000 = 16,995) where we may see it consolidate for awhile before, either, resuming its upward movement or losing steam to fall to 70,000, or lower.
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Disclaimer: All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are ...
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Disclaimer: All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are provided for your information or entertainment only...none of it may be construed as financial or trading advice. I trade my personal account only...I do not manage a fund for other people. Please do your own "due diligence" before engaging in any trading activity.
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