Home Bitcoin News Bitcoin has closed the most successful week in history and is ready to Storm $65,000

Bitcoin has closed the most successful week in history and is ready to Storm $65,000

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Bulls continue to dominate the cryptocurrency market. While the trend is not going to collapse and the bears have to wait for the moment to correct the market. Bitcoin holds positions above the $60,000 parameter. A maximum of about $62,888 was formed. Despite the fact that then there was a small correction to $58,850, there was a break above the $60,000 level and the 100-hour SMA again.

Bitcoin has closed the most successful week in history and

In addition, there was a break above the main bearish trend line with resistance of about $ 60,850 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above 76.5% of the Fibonacci retracement level of the downward correction from the fluctuation maximum of $ 62,887 to the minimum of $58,888.

At the same time, the initial resistance is now around the $62,500 level. A break above the resistance of $ 62,850 may well lead to the beginning of a new phase of Bitcoin growth. The next resistance is near the $63,500 mark, above which the value of the asset may rise to the level of $65,000 in the next few days.

However, if Bitcoin cannot overcome the threshold of 62-63 000 dollars, then the process of correction and reduction in the value of the asset may begin. And here the main question will be how much BTC will fall in price, to what point and to what extent the bears will be able to keep the trend down. There are no so-called “black swans” on the market for the next two days and there is no news that could bring the market down and spoil the mood of investors.

The fact that Bitcoin was able to overcome the $60,000 threshold once again shows that the asset has growth potential and it is hardly worth expecting it to fall to the $30,000 mark, as some analysts argued. It seems that the market has finally believed that cryptocurrency is of fundamental importance for the digital economy, and for the traditional one too.

Let’s see how the situation will develop in the coming week, and how the bulls and bears will behave and which of them will take up.

Moreover, the first cryptocurrency closed the most successful weekly candle in its history.

The largest cryptocurrency was dangerously close to closing below $60,000 after bears pushed it to an intraday low of $58,940.

However, buyers managed to make it a few hours before the historic weekly closing and save the day. The previous record was set in mid-April this year at the weekly candle mark of $ 61,570. However, just a few days after the ATN update, the market was waiting for a tough correction, which did not allow a record to be fixed in the weekly timeframe.

Last week, however, closed in green at $62,888. The probability of continuation of the bull market is quite high, as the need to fix the growth with a small correction.

1634540277 132 Bitcoin has closed the most successful week in history and

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