Bitcoin Weekly Outlook: Crucial Support Promises $60,000-Breakout
Bitcoin shrugged off a significant week prior as the Federal Reserve, Bank of England, and Bank of Japan declared their interest rate decisions and monetary policy guidance.
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Key Bitcoin Takeaways Bitcoin flirts with $60,000 for a breakout move. The cryptocurrency is trending inside a classically bullish ‘Ascending Triangle’ pattern. Coinbase’s listing on Nasdaq, US inflation data update this week promises further upside. Bitcoin has endured significant selling pressure over the last few trading sessions as it attempts to close above $60,000. The flagship cryptocurrency trades $1,500 lower from its previous all-time high level, near $61,778 (data from Coinbase). Despite positive fundamentals, led […]
Bitcoin fell wildly last week as the US dollar capitalized on rising Treasury bond yields.
Bitcoin price may surprise, as there is a monster breakout pattern forming for BTC/USD on the higher timeframe chart that can ignite a major move. Key Points. Bitcoin price is on the verge of a monster explosion vs the US dollar, as there is a crucial breakout pattern formed. There is a bullish trend line formed on the weekly chart (data feed from Bitstamp) of BTC/USD, which is acting as a major support on the downside. On the upside, there a significant resistance near $465-470, which is preventing gains in BTC. Bitcoin Price – Trade With a Break. Many BTC traders are waiting for some....