This is a daily analysis of the Coendesk analyst and rented market technician Omkar Godbole.
An American PPI softer than the expected one pushed Bitcoin More than $ 113,600, confirming the inverse head and shoulder pattern achieved highlighted earlier this week.
The rupture indicates the end of the recent record of records exceeding $ 124,000 and the broader rally resumption. Using the measured movement technique, which adds the distance between the low point of the pattern and the rupture point at the rupture level, it suggests that Bitcoin could reach almost $ 120,000.
Simple mobile averages of 50, 100 and 200 hours ascending (SMA) Supports the bullish impulse collection force. In addition, the MACD MACD crossing of the daily graphic on zero confirms even more a positive change in the feeling of the market.
On the positive side, the bulls can find resistance near the 50 -day SMA very observed at $ 114,700, while on the negative side, the lowest lowest low in around $ 110,000 serves as a key level for the bears to challenge.
