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Wednesday, September 28, 2022

Bitcoin Is Currently At A 5-Week High

A trader has recently released shocking yet outstanding news for the BTC traders if it is true. The crypto renaissance is currently watching Bitcoin as it gains its 5-week high prices. The cryptocurrency has challenged the major resistance in its price for a long time and finally showing a much-needed show of strength again.

 On July 20th, after its night of amazing gains, Bitcoin currently stands at $24000, and it looks like the bulls have finally taken the driving seat for the crypto from the bears.

 The Bearish Bitcoin Parabola Probably Have Finally Been Violated 

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The data from the joint study done by TradingView, and Cointelegraph Markets Pro has followed BTC since the start of its bearish market has revealed that BTC has been at its highest since June 13th as it stands at $23800 currently.

Amidst all odds, the most famous cryptocurrency has finally been over the bearish parabola it had been facing for the last few weeks; at least, that is what the experts think.

A popular crypto trader, Tony, has taken to Twitter to share his views on the news as he says that it is a good sign for Bitcoin that the dollars are facing a few hits from the bears today in the market. However, different traders still have a difference in opinion.

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Wolf, another analyst of the market, for example, has given a hint of another parabolic trend for the popular cryptocurrency throughout the year. This analysis from different traders, however, gives hope to general traders that Bitcoin might be hitting the $40000 mark again before it hits again with a bearish phase. Therefore, traders may now focus on the weekly close as there is a chance in five weeks that BTC breaks out from the 200WMA.

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