©Reuters. After collapsing to $16,408.48, BTC’s bullish momentum is propelling the king coin to $16,578.96
According to the recent price analysis, the dominance of the bears has been weakened. Bitcoin could see a price surge if it is able to clear the $16,610.43 resistance level. To what extent will BTC’s bulls be able to sustain the bullish momentum?
After a dip and sell-off in the early hours, Bitcoin (BTC) bulls dismissed the negative trend by finding support at $16,408.48. This bullish atmosphere propelled BTC prices higher, although they faced stiff resistance at $16,610.43. A break above this resistance level could lead to further gains in the bitcoin market.
BTC’s market cap and 24-hour trading volume both increased by 0.45% and 4.94% to $318,623,150,035 and $15,082,574,535, respectively, indicating buying pressure is mounting.
24-hour price chart (Source: CoinMarketCap)
Due to the bullish crossing of the Fisher Transform above the signal line at -1.41, market expectations are…
After a Dip to $16,408.48, BTC’s Bullish Momentum Drives the King Coin to $16,578.96 post appeared first on Coin Edition.
See original on CoinEdition
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.