Our updated chart on Bitcoin.
As inflation fears push the price higher and as Nasdaq recovers it's losses, Bitcoin is back on the rise.
Technically speaking, the 40,000$ mark is now unchecked. This was the big resistance up until a few hours ago and the price will need to check it as the new Support. This check will most likely need to happen and the price will decide for it's destination after that.
For the time being, the price just took a break at the resistance of what used to be the previous ascending channel. For the price to go higher from here this resistance must be breached over, which again sounds difficult for the time being.
In any case, this has been a fantastic day that even big-time Bulls on Bitcoin (like ourselves) were quite surprised to see, at least so early.
We hope you like the chart. Keep you posted here with frequent updates.
One Love,
the FXPROFESSOR
As inflation fears push the price higher and as Nasdaq recovers it's losses, Bitcoin is back on the rise.
Technically speaking, the 40,000$ mark is now unchecked. This was the big resistance up until a few hours ago and the price will need to check it as the new Support. This check will most likely need to happen and the price will decide for it's destination after that.
For the time being, the price just took a break at the resistance of what used to be the previous ascending channel. For the price to go higher from here this resistance must be breached over, which again sounds difficult for the time being.
In any case, this has been a fantastic day that even big-time Bulls on Bitcoin (like ourselves) were quite surprised to see, at least so early.
We hope you like the chart. Keep you posted here with frequent updates.
One Love,
the FXPROFESSOR
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