Bitcoin is back to bullishness after some consolidation and is now charging towards higher targets.
In this article, we will discuss BTC price analysis along with weekly analysis and news roundup.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
Bitcoin Price Chart
- Current Price: $70,370
- Market Cap: $1.36 trillion
- 24-Hour Trading Volume: $27.85 billion
- Circulating Supply: 19.35 million BTC
- Total Supply: 21 million BTC
Eyes on a successful retest of the pennant.
Weekly Price Analysis
Bitcoin started the week around $68,000 and peaked at level of $71,500 midweek before settling around the current price of $70,370.
The RSI shows that currently BTC is in a overbought position by not by much margin and therefore can potentially reach higher before consolidating and then again charging towards $100k level.
Guaranteed Lowest Fees – Try Bybit
News Roundup
- Central Bank of UAE Approves New System to License Stablecoins
- Turkey Denies Intentions to Tax Crypto and Stock Gains
Conclusion
Bitcoin’s current rally was always anticipated after the halving event. The price stability around $70,000 suggests strong support at this level, and the potential targets are higher.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
