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Bitcoin finds interim support at six-week low
Bitcoin found interim support at six-week low and may soon retest its $111,743.44 to $111,965.80 resistance area, provided that Tuesday’s intraday low holds.
Bitcoin finds interim support
Bitcoin bearish scenario:
Monday's slip through the May to August support zone at $111,965.80 - $111,743.44 - now because of inverse polarity a resistance zone - is technically bearish.
A fall through Monday's $108,757.90 intraday low would likely put the next lower minor support zone at $108,384.29 - $107,335.44 on the map, ahead of the early July low at $105,159.03.
Bitcoin bullish scenario:
If Bitcoin were to hold above Tuesday's intraday low at $108,757.90, the $111,743.44 - $111,965.80 resistance area may be revisited but may cap.
If overcome on a daily chart closing basis, the late July low at $114,700.28 may be back on the cards, together with the mid-July low at $115,739.64.
For the current corrective move to the downside to have ended a rise above the 22 August high at $117,440.43 would need to be seen.
Bitcoin daily candlestick chart
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