Bitcoin price continues to try to grow – ForTrader.org financial magazine


On Thursday, the bitcoin rate at the moment reached almost weekly highs outside the level of 38 thousand dollars, but could not confirm the breakdown and by the end of the day corrected, returning to its original positions and closing directly on the 20-day moving average, which creates obstacles for prices to grow almost from the beginning of June. Today quotes continue to try to grow, testing the $ 37 thousand mark.

It is too early to talk about confirmation of a reversal in the market, but at least more decisive signals of readiness for recovery began to appear. On the other hand, bitcoin and other coins continue to attract selling on the upside, indicating limited prospects for an uptrend in the foreseeable future. In other words, the picture of the market has improved somewhat, but not enough to bet on more confident growth, especially since the general psychological background remains unstable.

On the positive side, it is worth noting that State Street, one of the largest American banks, announced the launch of a cryptocurrency division that will focus on digital assets and the decentralized finance sector with the prospect of adding cryptocurrencies to the company’s technology platform, which will subsequently be digitalized.

Now the task of BTCUSD for the next few days is to hold positions and not return under the $ 33,000 mark, the breakdown of which will bring the support of $ 30,000 back into focus. In a favorable scenario, the quotes will break through the level of 38 thousand and outline a path to 40 thousand, but so far it is not considered as a base one. During the day, Bitcoin is likely to consolidate in a tight range, oscillating around the $ 37K mark.

Libertex [CPS] WW

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