BTC/USD Mid-Day Analysis for 3rd January
Open 14,023.9697
Close 14,360.0000
High 15,400.0000
Low 13,226.3301
Details
Bitcoin price rallied upwards to breach the key resistance levels mentioned yesterday, especially 14,409.00 level, which opens the way to regain the main bullish trend again, as we witness signs of positive technical formation that its confirmation line meets 61.8% Fibonacci correction level at 16,416.00, which means that breaching this level will push the price to record new historical highs.
Therefore, the bullish trend will be expected in the upcoming period, and the targets begin at 16,416.00 followed by 17,658.00, noting that breaking 14,409.00 will stop the suggested rise and push the price to test 13,167.00 areas initially.
Expected trading range for today is between 14,409.00 support and 16,416.00 resistance
Expected trend for today: Bullish
NB
This analysis is for information purposes only and does not amount to a trade signal.
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