2021-11-10 13:01:54
BTC/USD Forex Signal: Path to 70k is Still Intact
Bullish View
Buy the BTC/USD and set a take-profit at 70,000.
Add a stop-loss at 64,000.
Timeline: 1-2 days.
Bearish View
Set a sell-stop at 65,190 and a take-profit at 64,000.
Add a stop-loss at 67,000.
The BTC/USD price soared to an all-time high of more than $68,000 as demand for Bitcoin rose. Bitcoin has jumped by more than 127% this year, bringing its total market capitalization to more than $1.2 trillion. It has outperformed all traditional assets like gold and stocks.
Forecast
The BTC/USD pair has been in a strong bullish trend in the past few weeks. It managed to move above the previous all-time high of 66,900. It also moved above the upper side of the small cup and handle pattern.
The pair has also moved above the 25-day and 50-day moving averages while the MACD has moved above the neutral level.
Therefore, for now, the path of the least resistance is to the upside, with the next key level to watch being at 70,000.
source: dailyforex
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