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Bitcoin: Continues to Rally, Facing Major Resistance
Bitcoin's price surged during Friday's trading session, signaling a potential breakthrough of a significant resistance level at $47,500. The BTC/USD market swiftly ascended to the $47,500 mark, encountering resistance as expected. The rapid ascent prompts questions about whether the momentum is sufficient to breach this resistance decisively. A pullback seems probable, possibly retracing to the $40,000 level without altering the overall bullish sentiment.Between the current level and $40,000, the 20-day and 50-day Exponential Moving Averages offer potential support, suggesting a search for value at this juncture. ... (full story)
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- Posted: Feb 12, 2024 7:03am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 252
