Technical Analysis and Outlook
Bitcoin has been moving upwards since Sept 14 by breaking out from a Mean Sup $44,530 accumulation channel and accelerated.
At that moment, the Bitcoin price is trading around weak resistance marked at $48,150 and is due to accelerate to our Mean Res $52,600 and Inner Coin Rally $54,550. However, BTC’s recovery at this level will face stiff resistance, indicating that bears will be very active at this higher tier prices.
On the upside, analysts remain bullish, as indicated on the August 9 chart and some other different fast-time charts that underline the bullish potential for Bitcoin. See the 'Weekly Market Review & Analysis For September 13, 2021" page at the usual site for the rest of the market story.
Bitcoin has been moving upwards since Sept 14 by breaking out from a Mean Sup $44,530 accumulation channel and accelerated.
At that moment, the Bitcoin price is trading around weak resistance marked at $48,150 and is due to accelerate to our Mean Res $52,600 and Inner Coin Rally $54,550. However, BTC’s recovery at this level will face stiff resistance, indicating that bears will be very active at this higher tier prices.
On the upside, analysts remain bullish, as indicated on the August 9 chart and some other different fast-time charts that underline the bullish potential for Bitcoin. See the 'Weekly Market Review & Analysis For September 13, 2021" page at the usual site for the rest of the market story.