Bitcoin bulls look to retake control
Bitcoin trades at $66,192 (+5.32%), supported by reports of inflows into Bitcoin ETFs and the rising prospects of “pro-crypto” presidential candidate Donald Trump.
The overnight surge above the 200-day moving average, currently at $63,356, opens up a test of trend channel resistance at $67,800ish, coming from the March $73,794 high. This trend channel has proved to be a stumbling block on a number of separate occasions over the past six months.
Nonetheless, a sustained break above here would be a bullish development and open up a rally towards $80,000.
The overnight surge above the 200-day moving average, currently at $63,356, opens up a test of trend channel resistance at $67,800ish, coming from the March $73,794 high. This trend channel has proved to be a stumbling block on a number of separate occasions over the past six months.
Nonetheless, a sustained break above here would be a bullish development and open up a rally towards $80,000.
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