Dara-Ju-reti US Alainiṣẹ Data Fa Bitcoin lati mura silẹ

Azeez Mustapha

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Bitcoin (BTC/USD) is currently contending with a consolidation phase around the upper $11,000 area. This is coming as the cryptocurrency continues in its struggle to break the $12,000 resistance.

Worth mentioning is the organic authenticity of this rally compared to previous ones in past years, which indicates that it is curating a strong base for a fresh massive uptrend.

One way to spot the BTC organic growth is to look at exchange outflows, which appears to be gaining massively in recent months. This is a clear indication that investors are taking the long-term approach with their Bitcoin investments and also that there has been significant accumulation recently.

The combination of several fundamental factors with strong bullish technical bias shows that the next parabolic bull rally could be more than anything we’ve seen in previous years.

At press time, Bitcoin is trading at $11,640 after a better-than-expected US employment data provided some bullish strength for the US dollar, causing Bitcoin to retrace.

This retrace created an opportunity for some dip-buying, which could help the benchmark cryptocurrency break the $12,000 target.

BTCUSD - apẹrẹ 4-Aago

Awọn ipele idiyele Bitcoin lati Wo

The goodish US unemployment data caused Bitcoin to act according to how we specified it in yesterday’s analysis. BTC has now hit the $11,350 (50HMA) mark and is now heading back to the $12,000 level. That said, we’re likely to see a break above the $12,000 soon. After that, there’s a strong resistance to contend with at the $12,100 line followed by $12,250.

On the flip side, a break below $11,350 – $11,000 region could cause BTC to see the $10,800 support again

Lapapọ Olu ọja: $ 350.2 bilionu

Bitcoin Market Capital: $ 214 bilionu

Ijọba Bitcoin: 61.1%

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Azeez Mustapha

Azeez Mustapha jẹ alamọja iṣowo, oluyanju owo, olufihan awọn ifihan agbara, ati oluṣakoso owo pẹlu ọdun mẹwa ti iriri laarin aaye owo. Gẹgẹbi Blogger ati onkọwe iṣuna, o ṣe iranlọwọ fun awọn oludokoowo ni oye awọn imọran eto inọnwo ti ilọsiwaju, mu awọn ọgbọn idoko -owo wọn dara si, ati kọ ẹkọ bi o ṣe le ṣakoso owo wọn.

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