Technical Analysis and Outlook:
Bitcoin prices retested and broke out of the completed Inner Coin Rally at 75,500 and Key Resistance levels of 75,000, and completed the Extended #1 Inner Coin Rally at 78,500.
Progressive market analysis suggests strong potential for an Interim in-Force Pullback to Mean Support 74,000, with a possible extension to Mean Support 70,700.
When all is said and done, a hefty rebound from Mean Support at 74,000 and/or 70,700 will likely be initiated after achieving the initial price-down targets.
Bitcoin prices retested and broke out of the completed Inner Coin Rally at 75,500 and Key Resistance levels of 75,000, and completed the Extended #1 Inner Coin Rally at 78,500.
Progressive market analysis suggests strong potential for an Interim in-Force Pullback to Mean Support 74,000, with a possible extension to Mean Support 70,700.
When all is said and done, a hefty rebound from Mean Support at 74,000 and/or 70,700 will likely be initiated after achieving the initial price-down targets.
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