Bitcoin Needs To Break $70,000 For The Uptrend To Continue, Here's Why
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Bitcoin traders are upbeat, expecting prices to shake off recent weakness and soar above the local resistances to as high as $73,800. Even so, before the coin breaks above these liquidation regions, buyers must have conviction. Moreover, the leg up must be sustained by a fresh influx of new capital, ideally from investors fearing they will miss the train.
Currently, Bitcoin is stable and moving inside last week's bear range. At the same time, the coin is moving inside the September 1 bear candlestick that's noticeably wide-ranging. Even though prices are higher at spot rates, finding support from the $56,500 and $57,000 support zone, some traders are not convinced
