Bitcoin Moving Closer To $60K

At $59660 this morning, it looks like we will see Bitcoin re-take $60K. Bullishness continues, as it should

Bullishness for Bitcoin continues despite its struggle to reclaim $60,000

“Chad Steinglass, head of trading at crypto capital markets firm CrossTower recently discussed the pressures Bitcoin faced at the $60,000 level and pointed out that the top cryptocurrency has faced “at least some resistance at every round number on the way up,” and that once a resistance level is surpassed, it then becomes support.

According to Steinglass, ‘it will take a bit of chipping away to break through $60,000 with any kind of authority,’ but the recent strength displayed by Bitcoin ‘in the face of stiff macro headwinds’ indicates no reason for the bullish momentum to stop.

Steinglass identified the $57,000 to $58,000 range as the new support level which should hold ‘as long as some unexpected event doesn’t derail it,’ such as new lockdown measures or a significant move in US Treasuries.”


Master Asked on March 20, 2021 in Bitcoin.
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