đ„ Bitcoin Price Analysis: Bull Run Or Sell-Off To $65,000?
đ Bitcoin surged above $70,000 this week, briefly touching $72,000 before settling around $71,000. This minor move sparked bullish momentum in altcoins, with Binance Coin (BNB) surpassing key resistance levels to trade at $716 on Thursday. đ
đĄ Bitcoin maintained a 1.2% increase in 24 hours, sustaining a 5% surge in seven days and a 12% increase in 30 days, according to CoinGecko data. Bulls have cleared most hurdles toward an all-time high of $73,837, with the daily chart showing a green candle seeking a weekly close above $72,000 resistance. đ
đ Once this resistance is breached, investors may experience FOMO, potentially propelling Bitcoin to new highs of $80,000, with $100,000 possible before year-end. The Moving Average Convergence Divergence (MACD) confirms bullish sentiment, with all three Exponential Moving Averages (EMAs) indicating an upward trajectory. đ
đ° The Money Flow Index (MFI) supports the uptrend, with a recovery from the midline at 50 to 68, signaling potential overbought conditions. Bitcoin Futures Open Interest (OI) has also reached a historic high of $37.5 billion, indicating strong bullish sentiment among investors. đ
đ Robust support areas and the absence of solid resistance zones suggest that bulls currently dominate the market. With Bitcoin poised for further upside, a larger rally may be imminent. đ
