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Bitcoin Technical Analysis
The Bitcoin market has gone back and forth during the session here on Monday as we continue to grind sideways and try to sort out where we are going next. With that being said, the market is, of course, digesting some pretty significant gains from previous trading. And I would not be overly surprised, I suppose, if we get a short-term pullback, but that pullback should see plenty of support near the $90,000 level. The $90,000 level of course is a large, round, psychologically significant figure and an area that has been important multiple times and in both directions.
So, with that being said, I do believe you have a scenario where we will be looking for some type of pullback and bounce to take advantage of. Alternatively, we could find ourselves in a situation where we go looking to the 100,000 level and break above there. If we do, then that would obviously be a very bullish sign. At that point, I would anticipate that the market just simply goes back to the recent all-time highs at $110,000.
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