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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Bitcoin successfully back tests break out area.

Bitcoin is trading around $64,500. Price has pulled back towards the $63,300 break out area as a back test after the break out. So far price has respected both the horizontal support and the upward sloping trend line.


Red rectangle- horizontal support

Blue line- upward sloping trend line support

Bitcoin continues making higher highs and higher lows. It is important for the bullish short-term trend, bulls to hold price above the blue trend line. Support by this trend line is at $62,000. Price so far only back tested the red horizontal support area, which was once resistance. Bouncing off this level it is an important bullish sign. Failure to stay above $62,000 would be bearish for the near term.

The material has been provided by InstaForex Company -