Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
Data from TradingView shows that Bitcoin’s price continued on its upward trend that began last week, albeit at a slower pace, hitting an intraday high of $21,605 before pulling back to support near $21,300, where it now trades.The continued uptrend for Bitcoin has pushed the top crypto to a four-month high, according to Kitco senior technical analyst Jim Wyckoff.
“This has caused a short squeeze and subsequent strength in BTC, resulting in a recovery to pre-November price levels and pushing the RSI to multi-year highs, a potent signal of changing momentum,” the analysts wrote.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin mining difficulty hits new peak despite BTC’s new era shineBitcoin miners faced more challenges as mining difficulty surged. BTC risked a price drop unless demand becomes increasingly impressive. Bitcoin [BTC] in the last two weeks, has adjusted to rejuvenation but the same cannot be said of its miners. According to data from BTC.com, the Bitcoin mining difficulty hit a new high of 37.95T. Read […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin is back with a bonkA new token is up 910% since the start of the year
Source: globeandmail - 🏆 5. / 92 Read more »
Analyst: Bitcoin [BTC] bottoming like 2018, with one exceptionBitcoin is building a bottom akin to 2018, but under different macroeconomic circumstances. The index reached its highest point since 5 April, 2022, when it reached 52 on January 15, 2023. Although there are some similarities between this Bitcoin [BTC] bottom and the one before the 2019 bull run, according to Mike McGlone, senior commodity […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin’s Open Interest and demand level is key to short-term posture: Here’s whyLong and short Bitcoin positions have not been exceptionally significant, although funding rate remained positive. While the Bitcoin fear and greed index hit highs in months, the king coin will need increased demand to sustain the rally. The performance of Bitcoin [BTC] since the start of 2023 has brought confidence back into the crypto market. […]
Source: CryptoAmb - 🏆 22. / 68 Read more »