Why Bitcoin Aims For New Highs After Bump Phase

Bitcoin BTC BTCUSD 9 980x483

Bitcoin has been consolidating in the mid-range of the $50,000 in the past weeks. The cryptocurrency went through a correction during the weekend and lost critical support at $47,000, only to be saved by whales. These investors took long positions when the market went on full-fear mode and profited. But now, price action is back to uncertainty. At the time of writing, BTC is trading at $54.497,16 with sideways movement in the lower timeframes and small losses in the weekly (-3.1%) and monthly (-2.2%) chart. BTC moving sideways in the daily chart. Source: BTCUSD Tradingview Trader Josh Rager is conservative on BTC’s outlook but seems more bullish while the cryptocurrency maintains its 100D Exponential Moving Average (EMA). In the coming days, BTC could target $60,000 if it breaks a major resistance at $57,000. Otherwise, Rager believes the cryptocurrency could retest the “overhead level”. Source: Josh Rager Charles Edwards, a founder…

Read the original article here