FX.co ★ Bitcoin Fresh Upside Momentum!

Bitcoin is trading at $52,766 level as we speak, below $52,875 new all-time high registered earlier today. The price is strongly bullish so it could pass above today's record in the coming hours. Technically, the rate has decreased a little to test and retest a support level, downside obstacle before resuming its upwards movement.

Technically and fundamentally, we don't have any sign that Bitcoin's growth could end. Actually, more and more traders and investors want to join this major and aggressive uptrend.

BTC/USD Determined To Jump Way Higher!

As you know from my analyses, BTC/USD is expected to increase further after registering an upside breakout from the minor Falling Wedge pattern. The price has retested the pattern's upside line and now it flirts with new all-time highs.

R1 ($52,896) which is seen as an upside obstacle, static resistance could be easily overcome today. Closing and stabilizing above it signals a potential increase towards the second warning line (WL2) approaching also the R2 ($57,107) level.

Bitcoin Trading Tips!

Closing and stabilizing above the R1 ($52,896) represents a buying signal. Registering a new higher high indicates a further growth towards the R2 ($57,107).