Given the improving sentiment across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 88865.00, which stopped the previous wave B at the end of March.
- Bitcoin broke the resistance area
- Likely to rise to resistance level 88865.00
Bitcoin cryptocurrency recently broke through the resistance area located at the intersection of the three downward sloping resistance trendlines from March, February and January of this year respectfully (as can be seen from the daily Bitcoin chart below). The breakout of this resistance area accelerated the active short-term impulse wave 3, which belongs to medium-term upward impulse sequence (C) from the start of April – which started earlier from the major support level 75000.00.
Given the improving sentiment across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 88865.00, which stopped the previous wave B at the end of March. The breakout of the resistance level 88865.00 will accelerate the active impulse waves 3 and (C) and will add to the probability Bitcoin will soon test the next key resistance level 88865.00.
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