For Bitcoin (BTC), there were signs that buyers (bulls) were ready to push the price higher by breaking above the $63,000 resistance level. Comments by Federal Reserve Chairman Jerome Powell that interest rates would be cut in the future led to a sharp rise in riskier assets. Technical analysis from the Kraken website suggests that Bitcoin needs to consolidate above $62,000 to avoid retesting the $49,000 level. At the moment, it can be said that sellers (bears) have failed to keep the price below the $55,724 support and now the bulls have entered the picture. Chart analysis shows that if the price breaks above the 50-day moving average, it can reach $65,660 and then $70,000. But a break below $60,000 could trigger a decline to crucial support at $55,724.
Post a Comment
0Comments