Bitcoin costs shot to new all-time highs, as bulls try to say one other worth milestone on the $60,000 psychological resistance stage. Nevertheless, worth motion on the BTCUSD failed to carry on to those ranges, after a tweet by Elon Musk through which he mentioned that the value of BTC & ETH appeared excessive.
This tweet appeared to take the steam off the bulls, resulting in a slight correction that turned the each day candle for February 20 right into a doji candle. Although the value has recovered barely this Sunday, it’s but to achieve its earlier highs of Saturday.
Technical Outlook for BTCUSD
The pathway appears clear for BTCUSD to focus on the following goal at 60,221 (127.2% Fibonacci extension). Nevertheless, the Bitcoin worth exercise by bulls must breach the excessive of the doji candle (57563.57) to make this occur. An extra upside goal could lie at 63713.22 (141.1% Fibonacci extension).
Then again, a pullback from the present ranges kinds a night star sample, which may result in a correction that targets 53532,53 initially, adopted by 50729.16 and 48720.05, in that order.
BTCUSD Every day Chart
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