Standard Chartered · Bitcoin · Strategy · SpaceX · Bitcoin.com News
3 Bullish Signals Are in: Bitcoin Now Faces Critical $83K Breakout Test
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Three bullish signals have aligned for bitcoin, Standard Chartered said, while attention shifts to whether BTC can reclaim a key resistance area.
Key facts
- The Elon Musk company reached a $2.1 trillion valuation on its debut day after pricing shares at $135 and opening at $150 on Nasdaq
- Standard Chartered says the bitcoin bottom may be in at $59,000 after a 53% drop from its $126,000 high
- The June 15 update said Friday produced a positive inflow day for BTC, with $86 million entering the products
- Market conditions shifted after Strategy (Nasdaq: MSTR) disclosed on June 15 that it bought 1,587 BTC last week
Summary
Strategy’s new BTC purchase helped satisfy a key condition cited by Standard Chartered. Fresh ETF inflows and falling oil prices strengthened the case for improved crypto sentiment. Traders may now watch the $83,000 region as bitcoin’s next major confirmation level. Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick said on June 15 that three bullish signals for bitcoin have now appeared, matching the conditions he outlined last Friday.