Bitcoin continues to grow. Next target is $55,000

Bitcoin continued to grow again yesterday, which led to an exit beyond the local accumulation zone. Now, the path to the price of $55,000 per coin is open. Reaching this mark becomes a matter of time. It is important to identify possible correction zones. The nearest area where bitcoin has received support is the range of 46930-48200. A drop to this area will allow you to get the best deal possible and break-even prices for the purchase. This same zone will be decisive for the next two months.

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The upward movement is a strong impulse, ergo, there is no need to talk about sales. The probability of updating the monthly maximum in this and next months is 75%. This should be taken into account and attempts to find the end of the bullish trend should be abandoned. It is much more profitable to wait for pullback movements and buy the instrument again until a reversal pattern is formed at least below the weekly level.

The material has been provided by InstaForex Company - www.instaforex.com