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#BTCReclaims80K
- Bitcoin is BACK ABOVE $80K!
This is the first time that BTC has retaken $80,000 in 3 days and the price has increased in value by over 5% in the last 24 hours.
The recovery after the recent pullback fears reinstalled faith in the Bulls. Decreasing expectations of future rate hikes coupled with short position liquidations, helped to send BTC's value higher again.
BTC: Back above $80K
24H move: +5%+
Top drivers: Interest rate speculation, liquidations
What's next: $82K?
The crux comes here - can Bitcoin sustain an above $80K position?
Holding at this level could continue a bullish case, while another break down would take the price back into another consolidating period. The resistance and acceptance of this $80k figure is often more important than the actual break itself.
In my opinion, I will be closely watching $80k; a clear hold to the top could keep $82k on the cards while further trading and consolidation around the $80k resistance would also be completely normal.
Longer term whether you anticipate an expansion on the upside or down; this will be a highly volatile period.
What do you anticipate, more action on the upside at $82k or another period of consolidation around $80k?
#BTC #Crypto