Will Bitcoin Give Everyone a Christmas Gift?


As we enter the last week of the year many are eyeing bitcoin for a further breakout.

That would be a nice gift indeed and has me looking at the chart to see what the next logical upside targets are.

To the chart....

Looking at the daily chart of bitcoin I see two obvious levels based on prior reversals/pivot points.

Yo can see a clear high around 48K (top blue line) when looking toward the left side of the chart. That is a pretty clear and obvious prior high to reach for.

However, we also have a ton of price action around 45K where there was multiple tops before putting in that 48K high. Now, those levels probably come less into play given it was previously broken and did not act as a support on the way down, but I'll still keep me eye on it given we the most recent high got into that area and pulled back to consolidate.

48K would be a nice Christmas gift to end the year, we shall see what happens!

Posted Using https://inleo.io/@scaredycatguide/will-bitcoin-give-everyone-a-christmas-gift

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