The post Bitcoin at a Risk ; Alarming High Volatile Zone appeared first on Coinpedia Fintech News
Bitcoin has taken a sudden surge in the last 24 hours. Being in the month of September, Bitcoin showing this bullish momentum is a great sentiment for bitcoin enthusiasts. It is not a random movement but there are two reasons for it ; Donald Trump Buying the “Crypto Burgers” and Fed cutting fund rates by 50 bps. Let’s dive deeper into analysis and try to find out what could be the next move of Bitcoin, will it sustain or rise or fall back?
The chart Analysis
Looking at the chart it is clear that Bitcoin is trying to build a support at $62,800 and finding difficulties to enforce it. Currently BTC is trading at $62,875.2 and this zone is not yet cemented. BTC has tested the support of $61,900 multiple times, yet it is not a solid one. There are chances that bitcoin can fall back and we are going to discuss that, how?
The MACD indicator displayed a profound bullishness du
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