Bitcoin Technical Analysis Report 3 June, 2021

• Bitcoin broke daily Triangle
• Likely to rise to resistance level 41000.00

Bitcoin cryptocurrency continues to rise after the rice broke through the resistance trendline of the narrow daily Triangle from the middle of May. The breakout of this daily Triangle accelerated the active short-term corrective wave (b) – which started earlier from the key support level 35000.00 (which has been underpinning this cryptocurrency from the middle of last month).

With the sentiment improving across the crypto currency markets today – Bitcoin can be expected to rise further toward the next resistance level 41000.00 (top of the previous minor retracement A and the target price for the completion of the active corrective wave (b)).

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