Bitcoin Technical Analysis Report 14 January, 2021

• Bitcoin rising inside sharp impulse wave 5
• Likely to reach resistance level 42000.00

Bitcoin cryptocurrency continues to rise inside the sharp short-term upward impulse wave 5 – which started earlier from the round support level 30000.00 (low of the daily Bullish Engulfing from the start for January) running close to the 50% Fibonacci correction level of the previous fast upward impulse wave 3 from the middle of December – which belongs to the medium-term upward impulse wave (3) from September.

Given the strength of the uptrend that can be seen on the daily Bitcoin charts – Sugar is expected to rise further toward the next resistance level 42000.00 (top of the previous combined daily reversal candlestick pattern Evening Star Doji from the start of this month).

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