Bitcoin likely headed higher

Bitcoin and other cryptos remain supported.

BTC formed an inverted doji/shooting star candle off resistance around $24,600 on Thursday, which looked rather bearish. However, we have not seen any significant downside follow-through, suggesting Thursday's price action was driven by profit-taking than intense short-selling.

Thus, I think BTC will go on to take out liquidity resting above that doji candle from Thursday en route to 25K, possibly reaching the next resistance at $25400.

By Fawad Razaqzada on behalf of FOREX.com