There are some mixed signals for Bitcoin currently. That said, a monthly close above $61,000 is positive, and a long downside candle wick on the weekly time frame suggests strong buying. Is Bitcoin turning the corner?
Bitcoin is continuing to do its thing – nothing more, nothing less. A breathtakingly huge climb from under $40,000 up to $73,800 in the space of 8 weeks has resulted in a nice long sideways consolidation that is building beautiful price structure on top of the support of the 2021 crypto bull market.
$BTC bounces from range bottom
Source: TradingView
In the daily time frame it can be seen that the $BTC price has bounced from the $61,000 support, and that it might be headed back to the top of the range, if the price can battle through the smaller resistances on the way there.
Weekly candle shows plenty of buying last week
Source: TradingView
Zooming out a bit on the weekly time frame there is perhaps concern that last week’s candle closed underneath the $63,0
We współpracy z: https://cryptodaily.co.uk/2024/07/is-bitcoin-btc-turning-the-corner
