Bitcoin Buyers Regain Footing

Azeez Mustapha


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BTCUSD Buyers Gain Traction

Bitcoin buyers regain footing as recovery momentum builds. The BTCUSD has experienced a shift in sentiment, with buyers gaining strength and recovering ground around the $58,530 significant level. This week, buyers have initiated a solid pullback, showing willingness to counter the previous sell-side trend. Recently, there has been rejection around the $58,530 key level, where sellers have struggled to penetrate. Buyers appear to have slowed the bearish pace and are now on a mission for recovery.

BTCUSD Key Levels

Supply Levels: $67,360, $73,560
Demand Levels: $58,530, $64,300
Bitcoin Buyers Regain FootingIn the middle of this month, sellers managed to break through the $67,360 market zone, confirming Bitcoin’s sell-side trend. The bearish force has been trading lower and is now reacting close to the $58,530 significant zone.

At this point, buyers are likely to prevent old sellers from penetrating further. Increased buying pressure could lead to an immediate reversal, as sellers face rejection around this key area. The Parabolic SAR (Stop and Reverse) indicator suggests a reversal for a bullish recovery. Additionally, the RSI (Relative Strength Index) is primed for a crossover action, potentially favoring the buyers.

Market Expectation

In the short-term timeframe, a significant recovery has been observed as buyers keep pushing higher. Despite sellers trying to regain control, the crypto  is still showing strength. The RSI is currently rising, signaling the buyers’ intent to win the battle.
Bitcoin Buyers Regain FootingThe Parabolic SAR is also indicating a reversal, hinting at the confirmation of a bullish recovery. However, this pullback may be temporary unless buyers make a strong effort for a sustained rise. The presence of emerging crypto signals also suggests potential opportunities for traders to capitalize on this recovery momentum.

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Note: is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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