Bitcoin Making Notable Gains And Looking For More Momentum

Bitcoin prices were able to achieve noticeable gains during the previous trading session, touching the first target published during the previous analysis, located at 55,760 and approaching the second target 56,510, to settle for recording its highest level at 56,343.

Technically speaking, the possibility of a continuation remains due to the positive stimulus coming from the simple moving averages. To confirm the incline, we need to witness the breach of 56,350 to target 57,320.

Trading again below 53,800 postpones bullish chances, and we may witness a bearish trend targeting a re-test of 53,280.

Note: The level of risk is high

S1: 53280	R1: 55790
S2: 52295	R2: 57325
S3: 50760	R3: 58305