BTCUSD – Rising Uptrend Channel Above $60000
Bitcoin continues to consolidate its gains after touching an all-time high of $66967 last week. The price of bitcoin is now moving in a rising uptrend channel, indicating more upsides in the coming days.
Bitcoin is holding above the 100 hourly simple and exponential moving averages. The bearish correction that we saw last week after the price of BTC crossed $65000 seems to be well-supported above $60000.
Bitcoin has started its next leg of upward movement and is now expected to cross the 63500 handle in the US trading session today.
The short- to medium-term outlook for bitcoin remains bullish, and a rally is expected towards $65000 levels.
- Bitcoin recovered from its losses last week and is now trading above its support levels of $62061
- High relative strength index indicates a strong positive momentum in the short-term range
- The price is now trading above its pivot level of $62404
- All the moving averages are giving a STRONG BUY signal at current market level of $62972
Bitcoin Fresh Rally Towards $64000 Confirmed... More info: blog FXOpen
