Bitcoin Witnessing a Temporary Rally

Bitcoin started its weekly trading on a slight bullish slope after finding a good support floor near 33,430, which forced it to retrace the upside.

On the technical side, Bitcoin continues to receive a positive stimulus from the 50 day moving average. This increases the possibility that we will witness a slight bullish tendency over the coming hours targeting 33,940 and gains may extend later towards 34,110.

Trading again below 33,490 puts the price under selling pressure, targeting 33,240.

Note: The level of risk is high and all scenarios are proposed.

S1: 33490	R1: 33940
S2: 33240	R2: 34120
S3: 33060	R3: 34375