empty
 
 

14.01.202219:58 Forex Analysis & Reviews: Bitcoin confirmed its breakout

Bitcoin rallied after reaching 41,967.50 static support. At the time of writing, it was traded at 43,123.48 level. BTC/USD registered a 3.76% growth from today's low of 41,782.21 to 43,351.50 daily high. In the short term, the bias remains bullish, the cryptocurrency could resume its rebound.

In the last 24 hours, BTC/USD is up by 0.34% and by 2.69% in the last 7 days. Technically, the crypto retreated a little only to test and retest the immediate support levels before trying to jump higher.

BTC/USD upside pressure

Exchange Rates 14.01.2022 analysis

As you can see on the H4 chart, BTC/USD escaped from a down channel pattern which is seen as a bullish formation. It has dropped and retested the 41,967.50 support, developing a bullish engulfing pattern.

Now, it challenges the weekly pivot point (43,331.49). Jumping and stabilizing above it may signal potential further growth. Personally, I've drawn an uptrend line, so as long as it stays above it, BTC/USD could extend its growth.

BTC/USD outlook

BTC/USD could extend its growth if it closes and stabilizes above the weekly pivot point of 43,331.49. In the short term, it could develop an up channel as long as it stays above the uptrend line. The 45,750 and the descending pitchfork's upper median line (uml) could be used as upside targets.

Only a new lower low, a bearish closure below 41,782.21 could invalidate an upside continuation.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Ralph Shedler,
Esperto analista di InstaForex
© 2007-2022
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

Guadagna sulle variazioni del tasso di criptovaluta con InstaForex
Scarica MetaTrader 4 e apri la tua prima transazione



  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.