Bitcoin Technical Analysis Report
BTC held steady at $47k over the weekend. The asset has experienced a strong rally from $41 to $47k. Over multiple trading sessions, we have seen the asset close to the green. BTC dominance stands at 42.3%, and the market capitalization of $890bn is $890bn.
BTC trades at $46,815.
BITCOIN, after gaining multiple support at the rising trendline, is showing strong strength. The prices are now in green for the seventh day. The price of $45,500 was the resistance level for the asset. But, the bulls managed to overcome the key level and prices are trading above both the horizontal trendline as well as the 200-day moving average. If BTC continues to close above $45,500, then prices can continue to rally to $50,000 to $52,500. A rising Moving Average and RSI of 68 are positive signs for the asset. Key Levels:
Support 2Support 1AssetResistance 1Resistance 2$39,500$45,500BTC$52,500$60,000
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation or investment goals of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that has not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, completeness, reliability, fairness, accuracy or correctness of the information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and Investments in cryptocurre ncies viz. Bitcoin Cash, Ethereum, and Ethereum are highly speculative investments that can be subject to market risk. Author’s analysis is intended for informational purposes only. It should not be considered investment advice.
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