Bitcoin is bouncing back and moving towards higher levels after falling below $60k mark. BTC has given a breakout from triangle pattern.
In this article, we will look at BTC price target along with weekly analysis and news roundup.
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BTC Price Target
- Current Price: $61,458
- Market Capitalization: $1.2 trillion
- 24-Hour Trading Volume: $13.3 billion
- Circulating Supply: 19.7 million BTC
Pumped after the breakout as expected.
Now a breakout of the horizontal resistance will confirm a clear upward trend.
Weekly Price Analysis
- Price Fluctuations: Between $60,000 and $62,000
- Resistance Level: Briefly fell below $61,825.95
- RSI (Relative Strength Index): 60.97, indicating a bullish trend
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- Moving Averages: 50-week moving average has crossed above the 200-week moving average
- MACD (Moving Average Convergence Divergence): Shows bearish momentum in the short term
News Roundup
- Bolivia Revokes Crypto Ban, Allowing Banks to Transact in BTC
- SEC Delays Spot Ethereum ETF Launch Further: Report
- Dormant Whale Wallet Awakens, Transfers 1,000 BTC to Coinbase
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