The price of bitcoin has pushed above the 120K mark twice and then subsequently pulled back. The last time it touch the top end of the prior price range, bouncing off the 112K area.
Is it about to happen again?
Looking at the chart above you can see the last swing low at the 112K level, this would now be the first target for price support. If it does touch that again and hold, then it is indeed confirmed as support and gives us a clear new price range for 112K to 123k.
So even though BTC is not going higher, it may have carved out a trading range higher than the last one, which is plenty good in my opinion. Slowly grind higher.
Posted Using INLEO