Bitcoin cryptocurrency analysis: projected rise to 105,000.00 resistance level
Bitcoin cryptocurrency is showing signs of a potential increase towards the next resistance level of 105,000.00, following a reversal from the key support level of 92,820.00.
The recent upward reversal from the support level of 92,820.00 was reinforced by the lower daily Bollinger Band and the 38.2% Fibonacci correction of the sharp upward impulse from the beginning of November. This marks the beginning of the active short-term impulse wave b, which is part of the ABC correction 4 from the middle of December.
With a clear daily uptrend, oversold daily Stochastic, and a bullish sentiment prevailing in the cryptocurrency markets, Bitcoin cryptocurrency is likely to continue its upward trajectory towards the next resistance level of 105,000.00.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered as financial advice. It is essential to conduct your research or seek professional guidance before making any investment decisions.
Source : financefeeds.com