Technical Analysis and Outlook:
In the preceding trading session, the Bitcoin market demonstrated an upside resurgence, ultimately completing Inner Coin Dip 116500. Subsequently, the cryptocurrency is experiencing a recommencement of intermediary Primary Down-Trend rebound with the main target being Mean Support 113500, and additional extensions marked as Mean Support 111500 and 108300, respectively.
Current analysis suggests a slight possibility that the Intermediate Primary Rebound may extend towards Key Resistance at 123500, potentially leading to a retest of the completed Outer Coin Rally at 124500.
It is crucial to emphasize that the Semi-completed Outer Coin Dip at 102500 signifies the principal ongoing downtrend and accurately reflects the prevailing market sentiment. Upon the completion of this phase, it is anticipated that Bitcoin will resume its bullish trajectory.
In the preceding trading session, the Bitcoin market demonstrated an upside resurgence, ultimately completing Inner Coin Dip 116500. Subsequently, the cryptocurrency is experiencing a recommencement of intermediary Primary Down-Trend rebound with the main target being Mean Support 113500, and additional extensions marked as Mean Support 111500 and 108300, respectively.
Current analysis suggests a slight possibility that the Intermediate Primary Rebound may extend towards Key Resistance at 123500, potentially leading to a retest of the completed Outer Coin Rally at 124500.
It is crucial to emphasize that the Semi-completed Outer Coin Dip at 102500 signifies the principal ongoing downtrend and accurately reflects the prevailing market sentiment. Upon the completion of this phase, it is anticipated that Bitcoin will resume its bullish trajectory.
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