Bitcoin

The price of Bitcoin has recently resumed trading above the daily 200 exponential moving average (EMA). This positive movement opens the path to further upside action as the cryptocurrency gets closer to the daily 200-moving average (MA). These indicators are important as they help determine whether <a href="https://cryptotale.org/bitcoins-next-move-cme-gap-and-fed-rate-cut-in-focus/" rel="noopener noreferrer nofollow">Bitcoin</a> can continue to maintain the existing upward trend.<h2 id="header-0">Daily 200 EMA and MA as Key Resistance Points</h2>At press time, Bitcoin was hovering around $60,175, close to the important resistance of the daily 200 EMA and the daily 200 MA. The daily 200 EMA is reckoned as the key support level as Bitcoin regained ground above it. Historically, 200 EMA has been acting as support during upward and downward trends, signaling market confidence.According to a crypto analyst, the next level Bitcoin aim is the daily 200 MA positioned close to $63,973. The 200 MA level can be considered a resistance level and needs to be breached to form a higher local high in the Bitcoin price. This is an important level to watch because crossing the 200 MA could mean a switch of market structures. Based on the analysis, the price needs to rise above $65,000 in order for the structure of the market to go from bearish to bullish.Related: <a href="https://cryptotale.org/bitcoin-poised-for-128k-surge-with-cup-and-handle-pattern/" rel="noopener noreferrer nofollow">https://cryptotale.org/bitcoin-poised-for-128k-surge-with-cup-and-handle-pattern/</a><h2 id="header-1">Market Structure and Local Highs</h2>Bitcoin’s previous local high is near $65,000, and according to the daily chart, it coincides with 200 MA. A push beyond this level would confirm a higher high hence changing the direction of the market sentiment. Bitcoin&#39;s path toward the daily 200 MA and beyond depends on its ability to sustain a price above the daily 200 EMA in the short term.<a href="https://cryptotale.org/bitcoin-trading-above-key-levels-eye-higher-highs-near-65k/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Trading Above Key Levels, Eye Higher Highs Near $65K

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