Latest Technical Analysis on Crypto Bitcoin

Bitcoin broke above its key pivot line at $61,500.

In the coming days, bulls need to see this breakout confirm. To confirm, a daily candle must close above the breakout candle's high of $65,000, without closing below the pivot line first. Should this happen, it would confirm a bullish bias with upside to $69,000.

Just getting above the pivot line is bullish for positive. It shows that price at least can make that move, but it must confirm to solidify it or it risks failure.

Should Bitcoin slide below the pivot line without confirming, a negative bias would take control again and price would likely fall to $53,000-$49,000.

With a move above the pivot line but no confirmation, the bias is technically neutral. In other words, Bitcoin investors are waiting for confirmation to go bullish or a slip back below the pivot line to return to a bearish bias.

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