Bitcoin (BTC) is up 8% today making another attempt to move past its crucial resistance of $40,000. At press time, Bitcoin (BTC) is trading at a price of $39,828 with a market cap of $747.
Bitcoin has picked up strong momentum amid rumors of Amazon integrating BTC payments. However, Amazon has confirmed that there are no such plans for now but this hasn’t stopped the Bitcoin bulls from raging in. As per popular crypto analyst Lark Davis, Bitcoin has just closed its daily candle above the 200-day EMA. This sets an underlying trend that Bitcoin is set for further price surge going ahead.
#bitcoin just closed a daily candle above the 200 day EMA! This is the first time it has crossed this line since the crash started. BULLISH! pic.twitter.com/1PrC84RhEJ
— Lark Davis (@TheCryptoLark) July 28, 2021
In a note on Tuesday, Pankaj Balani, chief executive officer of crypto derivatives exchange Delta Exchange wrote: “The current momentum is strong”. Balani expects this momentum to drive
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