Bitcoin Technical Analysis Report 19 April, 2024

Dmitry Chernovolov Market Analyst

Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 67000.00, top of the previous minor correction ii.

– Bitcoin reversed from key support zone

– Likely to rise to resistance level 67000.00

Bitcoin cryptocurrency recently reversed up from the key support zone located between the round multi-month support level 60000.00 (which has been reversing the price from the start of March, as can be seen below), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from January. The support level 60000.00 was strengthened by the upper trendline of the narrow upward channel from last year.

Given the strength of the support level 60000.00, prevailing daily uptrend and the improving sentiment that can be seen across cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 67000.00, top of the previous minor correction ii.

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