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06/08 17:56

Bitcoin price technical analysis The other Bitco

Bitcoin price technical analysis

The other Bitcoin catalyst is its solid technicals. The daily chart shows that it has slowly formed a cup-and-handle pattern and is completing the handle section. 

Bitcoin has also remained above the 50-day and 200-day moving averages, which provide substantial support. It has also remained above the major S/R pivot point of the Murrey Math Lines tool. 

Therefore, the coin will likely bounce back in the coming weeks. The initial target is the cup’s upper side at $109,477. After moving above the all-time high of $111,900, it may surge to $150,000.

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