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Bitcoin Holds Above $22k Nears the Critical 200-Week Moving Average
Joining the modest rally in the traditional equity, Bitcoin has rallied to trade above the $22,000 mark for the first time in over a month. Gaining more than 7% since Friday, Bitcoin has now set a new monthly high at $22,795.
The 7D price chart of Bitcoin: Source: CoinMarketCap
Bitcoin, at this point, is holding above the $22,000 level as the 200-week moving average (M.A.) keeps bulls in check. However, analysts have predicted that Bitcoin would be unable to break out of the $22k resistance in one go.
The price of Bitcoin has now dropped down to $22.1k. However, the bulls would be praying that Bitcoin consolidates around the $22,000 mark, around the current 200-week moving average (WMA)...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...