Bitcoin Is Ready to Achieve a New Milestone of $70,000
Thanks to the bulls, Bitcoin is unstoppable again and at the moment this article was written it cost $64,026. The moving average on chart shows that the bull run will continue. Each time the first world’s cryptocurrency hits a new maximum, FOMO pushes the investors to join the rally.
50 SMA within the four-hour chart shows that buyers hold the situation in their hands firmly. The more they buy, the more new investors flood the market with the buy orders. According to the intraday levels, the support line for Bitcoin lies somewhere between $63,000 and $60,000.
At the upper edge of the ascending channel there is a resistance line. There is a way for the next spikes up to $65,000 and $70,000. Buyers rushed to the market on Tuesday and don’t seem to stop in the near future.