Bitcoin Breaks Free From Correction Channel: 86,960 Back in…
By Karthik Subramanian
AI summary of the source article
Bitcoin reversed upward from a support zone near 80,800.00 and broke out of its daily downward channel. Supported by renewed inflows into US spot Bitcoin ETFs, the cryptocurrency is projected to head toward the 86,960.00 resistance level.
Key facts
- Bitcoin reversed upward from a support zone around the key support level of 80,800.00.
- The reversal formed a Bullish Engulfing pattern and broke a daily down channel from the start of October.
- Bullish sentiment is driven by renewed inflows into US spot Bitcoin ETFs, with the next resistance level at 86,960.00.
Source excerpt · FinanceFeeds
Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 86960.00 (which stopped the previous impulse wave (1) at the end of September). Bitcoin reversed from support zone Likely to rise to resistance level 86960.00 Bitcoin cryptocurrency recently reversed up from the support zone between the key support level 80800.00 (former strong resistance from May and September…