The post Will Bitcoin Breach $60,000? Key Data Points You Need to Know appeared first on Coinpedia Fintech News
MicroStrategy’s recent billion-dollar investment in Bitcoin (BTC), the world’s biggest cryptocurrency has turned the market sentiment to bullish. With this investment, BTC has reached its crucial resistance level of $60,000 and is just one step away from a significant rally.
Bitcoin Technical Analysis and Upcoming Levels
According to expert technical analysis, Bitcoin appears bullish as it is currently trading above the 200 Exponential Moving Average (EMA) on a daily time frame. The 200 EMA is a technical indicator that signals whether the asset is in an uptrend or a downtrend.
Source: Trading View
Despite being in an uptrend, Bitcoin is currently facing strong resistance at the $60,000 level. If BTC closes a daily candle above the $60,000 level, there is a high possibility it could experience a price surge of almost 11% to the $65,000 to its next resista
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