Another great week for this value coin is taking price closer and closer to ATH around $65,000, as investors eye the last psychological level of resistance in the way. A new crypto fund debuted on the NYSE this morning which was the first traded fund on this exchange marking this event as a big step for the crypto community.
Whether we support or not, more money and technology continue to get piled into this industry, and the best minds in tech are working to improve security, business, transactions, etc. In just the month of October, bitcoin has climbed over 50% and 115% from July when it hit the lows. I think it's very possible we see another test at the all-time highs in the next few days to week, judging purely off this recent surge in momentum.
Price made a higher high on the 1D chart and inches slightly higher towards ATH at $65K. Because of the already-big move, support is way below around $53,000, but momentum suggests that a move to the $65,000 is more likely than a 15% decline. If price can break this major level of resistance, we may see an additional leg higher with increased momentum on the break.
12/2/2021 US equities fell 5% from the highs after fears of a new coronavirus variant emerged and the first case was recorded in the US. SPX500 is up .10% on the day at the time of writing this. Our outlook The new omicron variant is definitely concerning most investors right now as the US will […]
Check out my previous G/U deep dive from early October here to see how we have progressed... Technical Outlook: Price has mainly been travelling in channels throughout the past year. As we saw the ascending channel formed post-Covid last year, price began retesting all previous key horizontal levels. Over the past couple of months, price has […]
11/30/2021 Gold price rose 0.59% on the day at the time of writing this in light of the uncertainty surrounding the Fed's policy towards the new variant and tapering of asset purchases. Our outlook I think gold will likely see some green today as the virus concerns can cause a slow in growth since the […]