Bitcoin Went Above $60,000 – What’s Next?

This weekend Bitcoin managed to hit a new all-time high of $61,775 from the previous maximum of $58,000. The next peak is expected around $70,000. $62,000 have already formed into a barrier for Bitcoin to rush to its next ATH. At the moment, Bitcoin is traded for $57,946. 

The 50 simple moving averages form a gap above the 200 SMA. 100 SMA seem wide enough to demonstrate that the bulls are still active enough. The lower edge of the pattern holds the bears but not without a struggle.

Bitcoin seems to feel comfortable in the hands of bulls. However, if it won’t stand against the resistance at the channel’s middle boundary, it may slide even lower. If it will, its way to the new ATH of $70,000 will go seamlessly.

Post a Comment