Bitcoin

Momentum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-steady-trajectory-hints-at-bullish-breakout" rel="noopener noreferrer nofollow">Bitcoin’s Steady Trajectory Hints at Bullish Breakout</a><br></p>
<p style="text-align: justify">The digital currency <a href="https://en.bitcoinhaber.net/bitcoin-faces-sell-off-pressure-as-wallet-numbers-decline" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) has experienced consistent performance recently, sustaining its value after a significant increase in late January. The daily trading patterns reflect a tug of war between bullish and bearish investors, with neither side gaining definitive control, resulting in a stable yet cautious market environment.</p>
<h2 id="signals-of-bullish-momentum-for-bitcoin">Signals of Bullish Momentum for Bitcoin</h2>
<p style="text-align: justify">Short-term analyses suggest the formation of a bullish flag pattern, hinting at a possible uptick for Bitcoin if it breaks out from this consolidation. The cryptocurrency’s stability above both the 20 and 50-day Exponential Moving Averages (EMAs) bolsters market confidence. Bitcoin’s trading volume, reaching $13.9 billion, further suggests an 11.1% potential rise in value.</p>
<h2 id="bitcoin-s-resilience-shown-through-historical-recovery">Bitcoin’s Resilience Shown Through Historical Recovery</h2>
<p style="text-align: justify">Analysts speculate that Bitcoin is unlikely to drop to or below the $31,000 level. They observe that the 200-Week Moving Average (WMA) is ascending, which could imply a robust uptrend for Bitcoin. Even after a sell-off triggered by an Exchange-Traded Fund (ETF) decision, Bitcoin managed a powerful comeback from the $38,500 mark, climbing approximately 14% to $43,900. Following this spike, the emergence of supply-side pressure has led to a horizontal price trend, a common sign of market consolidation after a growth period.</p>
<p style="text-align: justify">The consolidation is depicted by a flag formation on the daily chart, with a potential resistance breach possibly spurring a continuation of the recovery trend. A successful breakout may push Bitcoin’s price beyond $45,000, with market analysts predicting a subsequent target of $48,000.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-shows-steady-movement-with-potential-for-growth/" data-wpel-link="internal" rel="noopener noreferrer nofollow" target="_blank">Bitcoin Shows Steady Movement with Potential for Growth</a></h5>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-steady-trajectory-hints-at-bullish-breakout" rel="noopener noreferrer nofollow">Bitcoin’s Steady Trajectory Hints at Bullish Breakout</a></h5>

Bitcoin’s Steady Trajectory Hints at Bullish Breakout

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