Bitcoin is seeking to commerce above the $21k degree for the primary time this month after including greater than 7% to its worth within the final 24 hours.
The cryptocurrency market has continued its glorious begin to the week. Bitcoin, the world’s main cryptocurrency by market cap, has been performing excellently during the last 24 hours.
Bitcoin has added greater than 7% to its worth up to now right now. This rally has seen Bitcoin transfer previous the $20k psychology degree for the primary in two weeks.
At press time, Bitcoin is buying and selling above $20,600 per coin. Because the market continues to recuperate, Bitcoin might rally previous the $21k degree for the primary time this month.
The rally comes because the broader cryptocurrency market continues its glorious begin to the week. The overall crypto market cap at present stands at $997 billion, up by greater than 7% within the final 24 hours.
If the market continues its upward motion, the full market cap might cross the $1 trillion mark earlier than the top of the day. Ether is buying and selling above $1,500 for the primary time this month, up by 12% within the final 24 hours.
Key ranges to observe
The BTC/USD 4-hour chart is bullish, as Bitcoin has been performing effectively during the last 24 hours. The technical indicators present that Bitcoin is acting on par with the broader market.
The MACD line is deep throughout the constructive zone, indicating that the bulls are actually in charge of the market. The 14-day RSI of 77 additionally exhibits that Bitcoin might quickly enter the overbought area if the rally continues.
At press time, Bitcoin is buying and selling at $20,604 per coin. If the bullish development continues, Bitcoin might surge previous the primary main resistance degree at $21,312 earlier than the top of the day.
Within the occasion of an prolonged bullish run, Bitcoin might commerce above $22,600 for the primary time in additional than a month.
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