• Bitcoin reversed from support zone
• Likely to rise to resistance level 48000.00
Bitcoin cryptocurrency recently reversed up once again from the support zone lying between the key support level 44000.00 (which has been repeatedly reversing the price from the start of August), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward price impulse from the middle of July. The upward reversal from this support zone continues the active intermediate impulse wave (3) from the start of this month.
Given the improvement in risk sentiment seen across the cryptocurrency markets today – Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 48000.00. Strong support remains at the support level 44000.00.