Bitcoin got another jump last week. It bounced off level $51,207 and shot up to a new resistance of $58,751.
More investors are coming in and preventing the price to drop lower.
Last week we expected to drop to this present level but we still didn’t it to rise back this high.
Nevertheless, there is a rise but we cannot trust that price will soon shoot to $70,000. We are looking to check if bitcoin surpasses the present resistance, $58,751. If bitcoin does not surpass that level then we expecting a continuation to the downside and our next stop may be lower than $51,207.
Looking at the technical indicators:
- Major Support Level – $56,236
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