Bitcoin Weekly Outlook: Is BTC/USD About To Surge Higher?
Bitcoin was able to pare a significant portion of the losses it incurred last week due to a strengthening dollar sentiment. And now, the benchmark cryptocurrency is looking to continue its upside momentum based on a favorable fundamental outlook in the new week. BTC/USD was up 1.05 percent to $10,891 during the early morning trading session on Monday. Its latest uptick appeared as buyers tried to slow down in the US dollar market. A trade […]
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Bitcoin bloomed higher last week despite weaker demand for safe-haven assets against a prosperous US economic outlook.
Bitcoin prices finished the last week slightly higher despite a rebound in the US dollar. The flagship cryptocurrency ended 2.63 percent higher on the Coinbase exchange for the week.
Bitcoin has surged decisively higher over the past 72 hours, moving from the $10,600 range to as high as $11,500 on Friday evening. As of this article’s writing, the leading cryptocurrency trades for $11,350, just around 9% above the weekly lows. Despite this decisive surge higher, not everyone is convinced that Bitcoin will continue its ascent. Not Everyone Is Convinced of Bitcoin’s Move Higher One crypto-asset trader noted that the ongoing move higher is still […]
In the short-term, supporting the upside outlook is the uncertainty led by a rising number of coronavirus infections in the US.
Bitcoin price pushed to $392 (Bitstamp) and, today, attempted the high again but failed. Once again in tandem with gold, bitcoin price fell away from the high and now approaches support. Will it break or will it bounce? Watch the bitcoin chart in the coming hours to see whether or not price finds support and bounces higher. A surge into an advancing trend was expected – and all the indications were confirmatory – but the irregular base wave formation leaves such an outlook in doubt. The price pattern of the current push higher does not differ from previous corrective waves to the upside.....