BTC Rebounds to $59,000, Resumes Bullish Trajectory

IconCryptoNewsTerminal Staff15 Aug, 2024

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BTC Rebounds to $59,000, Resumes Bullish Trajectory

Bitcoin (BTC) has rebounded to $59,000, resuming its bullish trajectory after a brief correction. According to Cryptonewsterminal market monitoring, BTC is currently trading at $59,018.2 on the Binance USDT market. This recovery follows a period of consolidation around $56,000, which saw BTC testing support levels before bouncing back. The rebound is likely driven by renewed buying interest, as investors anticipate further gains in the coming weeks. Analysts believe that the breakout above $59,000 is a significant technical development, indicating that BTC is gaining momentum and could target higher levels in the near future. The next key resistance level is seen at $60,000, which, if broken, could pave the way for a further rally towards $65,000.

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