$66,754.94
+0.58%
$3,232.80
+1.25%
$84.94
-0.97%
$31.42
-0.03%
$122.81
-0.67%
$0.00
-21.15%
$28.15
-0.62%
$0.16
+0.85%
$23.99
-0.15%
$0.00
-3.38%

Bitcoin Price Prediction as $8 Billion Trading Volume Floods In – Time to Buy?


Bitcoin‘s current technical landscape underscores a critical juncture, with the cryptocurrency trading around $42,885. The asset’s immediate resistance levels are charted at $43,457, $43,844, and $44,335, delineating potential ceilings for upward movements.

On the downside, support is positioned at $42,535, followed by $41,950 and $41,395, marking pivotal zones for price stabilization.

Bitcoin Price Chart - Source: Tradingview
Bitcoin Price Chart – Source: Tradingview

The Relative Strength Index (RSI) hovers around 48, indicating a neutral market sentiment, while the 50-Day Exponential Moving Average (EMA) at $42,710 slightly supports the current price level.

However, a symmetrical triangle breakout below $42,885 suggests an emerging selling trend, steering the short-term outlook towards bearish beneath this threshold.



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