Why Bitcoin Price Could Accelerate To $65K, Dips Likely To Be Limited

Bitcoin price is gaining momentum and it broke the $60,000 resistance against the US Dollar. BTC is showing positive signs and it could continue to rise towards $65,000. Bitcoin rallied above the $60,000 level and traded to a new all-time high near $61,800. The price is now trading nicely above $60,000 and the 100 simple […]

Why Bitcoin Price Could Accelerate To $65K, Dips Likely To Be Limited

Bitcoin cost is acquiring energy and it broke the $60,000 opposition against the US Dollar. BTC is giving positive indications and it could keep on ascending towards $65,000. Bitcoin revitalized over the $60,000 level and exchanged to another record-breaking high close $61,800. The cost is currently exchanging pleasantly above $60,000 and the 100 basic moving normal (4-hours). There is a key bullish pattern line framing with help close $58,500 on the 4-hours outline of the BTC/USD pair (information feed from Kraken). The pair could address lower, however plunges are probably going to be restricted beneath $58,000 in the close to term. Bitcoin Price is Surging This previous week, bitcoin cost began a consistent increment over the $55,000 obstruction against the US Dollar. The BTC/USD pair even broke the $58,000 level and settled over the 100 straightforward moving normal (4-hours).

The upward move acquired speed over the 76.4% Fib retracement level of the key descending move from the $58,281 swing high to $40,073 low. There was a solid increment over the $58,500 and $60,000 opposition levels. It even spiked over the $61,000 level and exchanged to another unsurpassed high close $61,800. It seems like bitcoin cost confronted a solid selling interest close to the $61,800. The 1.236 Fib augmentation level of the key descending move from the $58,281 swing high to $40,073 low.