Bitcoin set for post-election breakout, but flipping $70K to support is the first hurdle

Bitcoin set for post-election breakout, but flipping $70K to support is the first hurdle
фото показано с : cointelegraph.com

2024-11-6 20:00

Analysts say Bitcoin is ready to test new highs after the US elections conclude, but $70,000 needs to hold as support first.

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Bitcoin Price Analysis: Major Support Broken on Expanding Volume and Spread

After weeks of consolidation, bitcoin finally broke through support. The market now finds itself cruising toward prior lows. On expanding volume and spread, the bitcoin market appears ripe for a continuation of the downtrend:Figure 1: BTC-USD, Daily Candles, Broken SupportAlthough the current daily candle has yet to close, unless there is a strong influx of demand hitting the market, it stands to reason that bitcoin will be closing a new daily low for the first time since mid-December.

2019-1-29 02:01