The Crypto Continues Bullish Run as Bitcoin Holds Above $60k – October 18, 2021
On October 17, BTC/USD retraced to $59,000 assist and resumed upward as Bitcoin holds above $60k. Today, the BTC value has risen and it is retesting the $62,900 resistance zone. Buyers are trying to retest or break the current excessive. The upside momentum will resume if the bulls break above the present resistance at $62,900.
Resistance Levels: $50,000, $51,000, $52,000
Support Levels: $40,000, $39,000, $38,000
Today, Bitcoin has resumed the upside momentum after a minor retracement. BTC value would have fallen to $54,000 low if the bears have damaged under the $59,000 assist. BTC/USD is buying and selling at $62,165 on the time of writing. Bitcoin will rally above $70,000 if consumers maintain the bullish momentum above the $62,900 resistance stage. All the worth indicators have proven the overbought situation of Bitcoin. It is unclear if the bulls would have the option to maintain BTC costs above the current excessive. Moreover, if the resistance at $62,900 stays unbroken, Bitcoin might be compelled to a range-bound transfer between $59,000 and $62,500. Bitcoin is at stage 73 of the Relative Strength Index interval 16. The cryptocurrency has no room to rally on the upside. However, in a powerful trending market, the overbought situation could not maintain.
Brazilian Toddler Earns 6,500% Profit on Her Bitcoin Holding
João Canada is the founding father of a Brazilian crypto alternate, Foxbit. In 2017, Joao gave his new child daughter, a present of 1 BTC which was roughly $915.80. According to the daddy, he mentioned: “As soon as my daughter was born, in 2017, I bought 1 Bitcoin for her, not just as a gift, but as a way of investing in this new economy. At the time, BTC cost 5,000 Brazilian Real.” He famous that the BTC funding returned over 6,500% revenue 4 years later. Also, he indicated that traders have the chance to purchase Bitcoin for below $1000 in 2017.
Meanwhile, immediately the upward transfer has been stalled once more on the $62,500 resistance zone as Bitcoin holds above $60k. On the draw back, if Bitcoin faces rejection on the resistance zone and value breaks under the 21-day transferring common, the market will decline to $57,000 assist. Nevertheless, consumers are nonetheless pushing BTC value to retest the $62,900 resistance stage.
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Read extra:
• How to purchase Bitcoin
• How to purchase cryptocurrency
