On chart 1-hour timeframe, Bitcoin forms a double top at 58k and pulled back down to 55k a support level. Bitcoin did not drop down to 52k, the support level that I have expected for. Consolidation overall, Bitcoin touched SMA 100 and bounced back up to 57k in the meantime of writing this article. The Market is strongly bullish.
In my trading position, I am expecting the first take profit when BTC will touch 60.1k and take profit2 at the price of 63k if Bitcoin will break out its latest All-time high 58.3k on February 11th, 2021. Bitcoin will bring you to the moon. Just fasten your seatbelt.
Have a good trade everyone.
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Bitcoin Technical Analysis March 12th, 2021 Analysis
