Bitcoin Needs to Surpass $58,000 to Restore Bullish Trend ๐
Bitcoin (BTC) needs to flip the $58,000 level to regain a bullish trend, says trader Altcoin Sherpa. This level aligns with BTCโs 200-day Exponential Moving Average (EMA 200). BTC must close above this in higher timeframes to aim for $63,000.
๐จ๏ธ โCanโt break it? We test the low 50ks. Wait and see,โ adds Sherpa.
๐ Bitcoin tried to break a one-and-a-half-month downtrend by surpassing $59,000 today, as reported by trader Rekt Capital. However, it was rejected back to the low $58,000 level.
๐ Rekt Capital also highlights that BTC needs to close the week above $60,600 to avoid further pullbacks.
Despite recent corrections, a CoinGecko survey shows that over 50% of investors and builders remain optimistic about the bull cycle.
Stay tuned for more crypto sights! ๐
๐ขRemember: A lot of Hardwork goes into for providing you Best Investment Articles. Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
