Skip to main content

Bitcoin trying to find a base below 36k ahead of the weekend but will it succeed?

Since my ;last update here on Bitcoin, the lead cryptocurrency has fallen back to below 36k, after stalling above 36,600 earlier this afternoon. The high seen during the Asian session much earlier today was set at 36,673, as reported this morning. The high seen this afternoon was set at 36,624. The low seen ahead of the London 4pm FX fix was set at 35,882. Looking closely at the very short term chart, it looks like the lead coin is trying to find a base just below 36k this afternoon, but success on that remains uncertain. Beyond the very short-term price action, the noted double top on the daily charts (37,973 and 37,972) is still a formidable level to surmount. Indeed, there has not been much of any kind to attempt on that either so far today. The nearest technical support level is the current 21 day moving average (now at 35,623). If the downside does prevail ahead of next week, then it could accelerate if that is taken out and more importantly iff we see another fall below 35k. Bitcoin is currently trading at 35,980
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!