BTC at $61,800: A Critical Juncture
CryptoNewsTerminal Staff09 Aug, 2024
BTC at $61,800: A Critical Juncture
According to CoinDesk, FxPro's senior market analyst, Alex Kuptsikevich, has identified $61,800 as a pivotal level for Bitcoin (BTC). This intersection of the 50-day and 200-day simple moving averages holds significance for the cryptocurrency's trajectory. If BTC successfully breaks through $61,800, it could trigger a rapid surge towards $67,000. Conversely, failure to overcome this resistance could result in a pullback to the July-August low of $55,500. Traders and investors will be closely monitoring BTC's performance around this critical juncture. A sustained breakout above $61,800 would signal a resumption of the bull market, while a sharp reversal could indicate a deeper correction.
