The leading cryptocurrency, Bitcoin (BTC), has been trading between $60,000 and $72,000 for over two months. Now, bullish indicators suggest BTC could revisit the range’s top after more than a month of trading at its support.
Notably, Bitcoin entered the current range on February 28 in a remarkable bull rally before reaching its previous all-time high. As developed, BTC made new highs at $73,805 in the first deviation from the range in mid-March. Later, another deviation happened on May 1—this time, downwards.
The maiden cryptocurrency briefly lost momentum in early April and started a downtrend that ended with the mentioned deviation. Since then, BTC has traded below its 30-day exponential moving average (30-EMA), and Bitcoin short-sellers have dominated a bearish market.
Should Bitcoin break out from its 30-EMA, currently at $63,360, it could seek the range highs at $72,000.
BTC/USD daily price chart. Source: TradingView / Finbold
Short squeeze alert for Bitcoin (BTC
We współpracy z: https://finbold.com/heres-when-bitcoin-btc-could-hit-72000/
