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Bitcoin Price Chart: BTC/USD Gaining Pace

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  • Bitcoin Price Chart: BTC/USD Gaining Pace

    It looks like Bitcoin price is recovering from the $880 low against the US Dollar.
    It already move higher by more than 30% and currently trading above the $1000 level.

    It is a positive sign and may prompt more gains in the near term.
    The next major resistance on the upside is around the $1050-1060 mark where sellers may appear.

    On the downside, a support is formed near $1000.
    You can view the chart attached to understand the current situation.

    Trade Safe, Cheers!

    XbYl95iz.jpg


  • #2
    Good to see the recovery. BTW, is the recovery due to weakened USD across the board against various assets? Whatever it might be $1000 level is proving to be magnet and traders are trying to push to it from the lows and trying to take it from there! Lots of things going through in the markets to be considered and Bitcoin seems to be holding up quite well even though there has been a notable dip!

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    • #3
      Actually, there is one more reason. Japan officially approved Bitcoin as payment system.
      This is a good news, and might help it gain more bids

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      • #4
        Now, I believe it should be crystal clear that there won’t be any down at least in next few weeks and it might even cross $3000 for the first time, it’s unbelievable how things are working for BTC and is likely that we will see it continue on same direction, so it will be interesting where it all leads, but we need to be extremely wise and play it all rather smoothly, as only then we will be able to gain.

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