Given the strength of the support level 63350.00 and the improving sentiment that can be seen across the crypto markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 72265.00 (which stopped wave a in February).
- Bitcoin reversed the support area
- Likely to rise to resistance level 72265.00
Bitcoin cryptocurrency earlier reversed from the support area between the key support level 63350.00 (which has been reversing the price from the start of February, as can be seen from the daily Bitcoin chart below) and the lower daily Bollinger Band. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer, which follows the similarly strong candlesticks pattern Morning Star which Bitcoin formed earlier in February.
Given the strength of the support level 63350.00 and the improving sentiment that can be seen across the crypto markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 72265.00 (which stopped wave a in February).
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