Bitcoin Achieves Strong Gains

Bitcoin prices continue to achieve gains, recording their highest level during the previous trading session 58,550. On the technical side today, with the moving averages continuing to provide a positive incentive, in addition to the stability of intraday trading above the support level 55,630 and in general above 55,220.

A bullish bias is likely today, provided that the breach of 58,550 is confirmed, and this is a catalyst that increases the possibility of reaching 58,970 a first target, and gains may extend to a visit of 60,400 later.

Only from below, the return of trading stability below 55.220 will stop the bullish scenario completely, and Bitcoin will witness a clear decline, aiming to re-test 53,760.

Note: the level of risk is high.

S1: 55635	R1: 58970
S2: 53760	R2: 60420
S3: 52300	R3: 62300