S&P 500 · Bitcoin · Cointelegraph
$60.4K Becomes 'most important area:' Five things to know in Bitcoin this week
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Bitcoin saw its highest levels in nearly two weeks at the weekly close, but bulls needed a push beyond $65,000 for real trend inflection, said the latest BTC price analysis.
Key facts
- A successful breakout above that US$65,000 threshold would open the door to a broader test of the 100-day moving average, which currently hovers near US$69,500,” he wrote
- Retail investor inflows displayed a shallower rate of decline, falling from $10.02 billion on June 12 to $8.2 billion on July 6
- In the event of a reversal downward, trader Killa called the zone between $60,400 and $60,900 Bitcoin’s “most important
- While BTC/USD managed a trip to near two-week highs, Nasdaq 100 futures added 1% as analysts remain bullish on the broader US outlook
Summary
Bitcoin (BTC) starts the second week of June near two-week highs with traders keen to see bullish continuation. BTC price action targets nearby liquidity as a trader names the “most important” support zone to hold next. US stock-market performance gives analysis reason to believe that the good times will continue amid “record” retail risk appetite. A stock-market correction is not out of the question, new warnings conclude, but Bitcoin should have already priced in the fallout.