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BTC, Bitcoin, Technical Analysis

Bitcoin Settled Below Resistance

Adel 12 February, 2021 12:07 pm Daily Technical Analysis, Technical Analysis

Positive trading dominated the movements of Bitcoin during the last session’s trading, as the current moves witnessed stability in the price again above 47,000.

Technically, despite the bullish bias, we tend to be negative, depending on the gradual loss of the bullish momentum stochastic, in addition to the price stability below 47,465.

We aim to re-test 47,070/47,040 the first target, and breaking it opens the way to visit 46,840. The breach of 47,465 leads Bitcoin to an upward path with target 47,505 then 47,690.

Note: Risk level is high and all scenarios are on the table.

S1: 47070R1: 47505   
S2: 46840  R2: 47695
S3: 46645R3: 47930

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