Connect with us

Hi, what are you looking for?

Investing

The price of Bitcoin rose to a new weekly high this morning

The price of Bitcoin rose to a new weekly high this morning

This morning, the price of Bitcoin climbed to a new weekly high at the $66479 level

Bitcoin chart analysis

This morning, the price of Bitcoin climbed to a new weekly high at the $66479 level. After its formation, we stopped there and started a pullback to support at $65325. The price is now putting pressure on that zone, which could produce a bearish impulse and drop to a new daily low. We expect to see a test of the $65,000 level before continuing bearish consolidation.

At $64500, Bitcoin will test the EMA 50 moving average. Yesterday, we managed to stay above it and start the recovery. This time, we are on a bearish trend and need a break below to continue the pullback. Potential lower targets are the $64,000 and $63,500 levels. The EMA 200 moving zone is waiting for us below in the $63000 zone, and there, we can hope for greater resistance to continue to the bearish side.

 

The price went to a new weekly high this morning, while we are now seeing a loss of momentum

For a bullish option, it is necessary for Bitcoin to successfully hold above the $65,000 level. We then need a climb to $65750 to break out of the current short movement zone. Thus, the price will form a smaller high that hints at a return to the bullish side. This is followed by the initiation of bullish consolidation, and we hope to test this morning’s high. Potential higher targets are $66500 and $67000 levels.

The price increase showed a significant growth in the total market capitalization of Bitcoin. Market capitalization currently stands at $1.297 trillion, up from last week’s $1.175 trillion. Bitcoin trading volume has doubled today, from under $20 billion over the weekend to over $40 billion.

 

The post The price of Bitcoin rose to a new weekly high this morning appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Economy

    Thousands of dockworkers on the East Coast and Gulf Coast will return to work after reaching a tentative agreement on wages, ending one of...

    Latest News

    Tunisians voted Sunday in an election expected to grant President Kais Saied a second term, as his most prominent detractors, including one of the candidates challenging...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com