Bitcoin cryptocurrency can be expected to rise further in the active impulse waves iii and 3 to the next resistance level 95000.00 (which reversed the previous wave i).
- Bitcoin reversed from support zone
- Likely to rise to resistance level 95000.00
Bitcoin cryptocurrency recently reversed down from the support zone between the key round support level 90000.00 (former resistance from December, as can be seen from the daily Bitcoin chart below), 20-day moving average and the 50% Fibonacci correction of the upward impulse from December. The upward reversal from this support zone started the active short-term impulse wave iii, which belongs to the higher order impulse wave 3 from the middle of December.
Given the improving sentiment seen across the crypto markets today, Bitcoin cryptocurrency can be expected to rise further in the active impulse waves iii and 3 to the next resistance level 95000.00 (which reversed the previous wave i).
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