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Today, Bitcoin tested the 55000 level, which was recently the target. Fixation above this mark occurs on the third day. Holding above this psychological level will pave the way for the next big target of $60,000. As of today, there is no increase in the activity of sellers, which speaks in favor of updating the monthly maximum in the near future.
Trading in the direction of the bullish momentum remains a priority, ergo, purchases from the zone of limit orders 55470-54265 are breakeven within the framework of the weekly movement. It will take two weeks or more to form a reversal pattern, which will allow you to exit purchases with minimal losses in the event of a sharp change in market direction.
The potential to work towards an already established trend is always higher. This makes it possible to speak about the update of the monthly maximum with 80% probability.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
