• Bitcoin reversed from support area
• Likely to rise to resistance 35000.00
Bitcoin cryptocurrency recently reversed up from the support zone located between the key round support level 30000.00 (which has been reversing the price form the end of January, as can be seen form the daily Bitcoin chart below) and the lower daily Bollinger Band. The upward reversal from this support area created the daily reversal pattern Hammer – which stopped the previous short-term corrective B from the middle of June.
Given the clear bullish divergence on the daily Stochastic indicator and the improvement in risk sentiment as seen across the cryptocurrency markets today – Bitcoin cryptocurrency can be expected to rise further toward the nearby resistance level 35000.00 (the top of the previous trade session).