Bitcoin nears record high
Bitcoin nears its record high, having bounced off this week’s $115,739.64 low.
Bitcoin nears record high
Bitcoin bullish scenario:
Bitcoin is seen heading back up towards its 161.8% Fibonacci extension of the 2019-to-2021 advance, projected higher from the 2022 low, at $122,056.92.
Above it beckons Monday's record high at $123,181.77. If overcome, the next higher 161.8% Fibonacci extension at $143,519.00 might be in focus.
Minor support below the 11 July high at $118,839.29 can be spotted at the 15 July low at $115,739.64. Further down lies the May peak at $111,965.80 which may also offer support.
Bitcoin bearish scenario:
In case of a bearish reversal and fall through Thursday's $117,500.50 being witnessed, the 15 July low at $115,739.64 would be back in sight. Failure there may lead to the May peak at $111,965.80 being revisited. Together with the early June high at $110,617.03 and the early July high at $110,598.55 it offers a solid potential support area.
Bitcoin/USD chart
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