Bitcoin Recovering

Bitcoin prices jumped within the expected bullish context during the previous analysis touching our awaited target at 33,990, recording its highest price of 36,875.

On the technical side today, we tend to be positive in our trading, but cautiously depending on the stability of trading above the support level of 34,650, which meets around the 50-day average and adds more strength to it.

We are targeting 37,570 in the coming hours, and gains may extend towards 37,810. The suggested scenario depends on trading remaining above 34,650.

Note: The risk level is high.

S1: 34710	R1: 37810
S2: 32680	R2: 38890
S3: 31610	R3: 40910