BTC on the way to a critical weekday, will $ 52.9,000?
BTC on the way to a critical weekday, will $ 52.9,000?
BTC had an impressive run this week and managed to get $ 52.9,000 via an important downward trend line and the September high. He managed to achieve an intra -high high of $ 56.1,000 and to penetrate deeper into the zone of technical resistance and resistance in the chain of $ 55,000 to 58,000.
The previous rally has shown profit from many younger coins, while the older cohorts continue to keep stable. Although many weak hands, which bought BTC over 50,000 at the beginning of this year, have destroyed panic during the liquidation in May, we can expect some remaining investors who want to reach the profit threshold at short notice, in particular between $ 55,000 and 58,000
In view of the technical and strong price distribution in the chain in the zone of $ 55,000 to $ 58,000, it could take several attempts from the BTC to get over these levels before a large outbreak towards the previous all-time high is confirmed at $ 64.8,000.
consolidation before the next big step?
Short-term technical data, especially on the 4-hour chart, achieved slightly overbought levels, which indicates that consolidation or a small retreat is required before preparing for the next big movement. At the moment, BTC with $ 52.9,000 remains above the September high, a very important level. Bitcoin has to take a weekly closing course to continue the outbreak and validate the bear trap.
A weekly closure of over 52.9,000 USD is a very zinsbullic signal and increases the likelihood of testing the resistance zone of $ 55,000 to $ 58,000 again. The more resistance is tested, the weaker it becomes, which increases the likelihood of breaking up the resistance if enough buyers come onto the market.
light upward trend in the foreign exchange trends - still at multi -year lows
In addition, BTC reached overbaufed levels at short notice, there has been a slight increase in the foreign currency serves in the past few days, as younger coins began to take profits with them. This is a short -term careful signal, but we have to consider that the reserves remain at multi -year lows.
The currency trays reserves tended down all year round, since the investors continued to buy BTC and withdraw from the stock exchanges, which increased the massive shock of offer.
Bitcoin bulls are eagerly waiting for the week to see whether BTC can rise above the critical level of $ 52.9,000. If you manage to maintain the purchase pressure and to press BTC to over $ 58,000, the likelihood of another test of ever increases significantly, as there is much less resistance over $ 60,000.
does the global risk-on trade come back?
The SPX managed to keep an important intrawe deep and showed several daily closing courses higher, which indicates a double floor and a developing repentance. The dollar was flat because money flows out of long -term bonds, which indicates that the risky trade could return because investors try to overcome the short -term uncertainties.
Overall, the trend remains in the case of fundamental data, technical data and on-chain values, since the long-term owners held out liquidation events and uncertainty despite this year's difficult drawdowns. The most recent price campaign has shown that the bulls will regain control from the bears. The outperformance of Bitcoin compared to other risk systems during important risk-off events in September is an important sign of strength for the greatest cryptocurrency, which indicates a continued outperformance as soon as the markets resume the risk.
The weekly closing price relative to $ 52.9,000 will probably determine the direction of BTC for the coming weeks.
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