Bitcoin Technical Analysis Report 14 June, 2021

• Bitcoin broke resistance area
• Likely to rise to resistance level 45000.00

Bitcoin cryptocurrency continues to rise after the price broke sharply through the resistance area lying between the round resistance level 40000.00 (which has been reversing the price from the middle of May) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of May. The breakout of this resistance zone accelerated the active short-term impulse wave C.

Given the improvement in risk sentiment seen across the cryptocurrency markets today – Bitcoin can be expected to rise further toward the next resistance level 45000.00 (target price for the completion of the active short-term impulse wave (i)).

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