Bitcoin bulls on parade: Will we see record highs this month?
Almost exactly a month ago (here), we highlighted the 42K-53K range in Bitcoin and noted that “a bullish breakout above 53K would open the door for a continuation toward record highs above 60K in time.”
Well, last week brought that key breakout, and after consolidating in the mid-50Ks for a couple days, Bitcoin is in rally mode again today, eclipsing 57K as of writing. After a relatively long period of consolidation through the summer, the price action is suggesting that the longer-term uptrend is resuming.
As long as prices for the world’s oldest cryptocurrency remain above their rising 100- and 200-day EMAs, the path of least resistance remains to the topside for a test, or even potential break above, the record highs near 65K. In the short-term, traders will be watching previous-resistance-turned-support at 53K to provide a potential floor on any quick dips.
Well, last week brought that key breakout, and after consolidating in the mid-50Ks for a couple days, Bitcoin is in rally mode again today, eclipsing 57K as of writing. After a relatively long period of consolidation through the summer, the price action is suggesting that the longer-term uptrend is resuming.
As long as prices for the world’s oldest cryptocurrency remain above their rising 100- and 200-day EMAs, the path of least resistance remains to the topside for a test, or even potential break above, the record highs near 65K. In the short-term, traders will be watching previous-resistance-turned-support at 53K to provide a potential floor on any quick dips.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.