Bitcoin closed higher than the previous 4 weekly candles, and having consumed these previous weekly closes, the king of the cryptocurrencies is pushing at the $67,000 resistance level.
Bitcoin consolidation coming to an end?
The stage is set for bitcoin to go higher. Ten weeks of sideways accumulation and consolidation look as though they might have come to an end. A 7.7% rise during the course of last week was enough to cancel out the last 4 weeks of sideways and downwards choppiness in price.
The major stock markets have returned to all-time highs as liquidity continues to flow into the system, even though the Federal Reserve keeps rates unchanged. With the economic outlook quite bleak, it might be that rate cuts will take place sooner than later.
Spot Bitcoin ETFs back on song
A whole week of positive inflows into the Spot Bitcoin ETFs was a helpful impetus for the $BTC price. A total inflow of $948.3 million for last week meant that things are now looking far rosier
We współpracy z: https://cryptodaily.co.uk/2024/05/strong-weekly-close-means-bitcoin-btc-ready-to-push-higher
