Bitcoin bulls are ready to ride again.
After pulling back to an important price support zone and getting oversold, Bitcoin has hooked up and triggered a mechanical buy signal by moving above the 106253 level.
Our systems are producing a Money Flow Unit (MFU-4) price target at the 123835 – 125000 area.
As long as price holds above the recent buy breakout area, Bitcoin has a shot of hitting 115000 first, then potentially 125000.
Bitcoin “weekly” Price Chart
Check out my research offerings on Cerundolo Investment Research.
Twitter: @GuyCerundolo
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
