Tuesday, September 21, 2021
HomeNewsChart of the day: Bitcoin (08/23/2021) | news

Chart of the day: Bitcoin (08/23/2021) | news

Stocks and commodities started the new week with price gains. Sentiment has also improved with other high-risk assets, such as cryptocurrencies. In the case of Bitcoin, it is the sixth week in a row that the cryptocurrency has started an upward move. News that PayPal is expanding its crypto offering to UK customers has pushed Bitcoin to a 3-month high near the $ 50,000 mark.

A look at Bitcoin from a technical point of view shows that the coin is testing the resistance zone between the $ 50,000 mark and the 61.8% retracement of the downward movement in mid-April 2021. Should this hurdle not be overcome, the price could fall back towards the $ 45,000 mark, which is the lower limit of the market geometry. On the other hand, a breakout above $ 50,000 would pave the way for a test of the $ 55,000 zone.

Source: xStation 5

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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