Bitcoin (BTC/USD) rose to its highest level in more than two weeks at $11,800 on Saturday but failed to preserve its bullish momentum. As of writing, The chart he put forth shows this level existing around $11,300, and the chart seen below indicates that $12,000 will be the next logical target if this continues holding strong. “Bitcoin: Pretty standard still. Wicky structure, but crucial level remains,” he said while pointing to the below chart. Image Courtesy of Crypto Michael. Bitcoin switched from a negative to a positive gain against its yearly moving average in early-May as the price rose over $9,000, while gold already moved into the positives a month earlier in April. As the two assets came out of the crash, the crypto’s recovery began catching up and soon outpaced the metal’s. The chart below shows when Bitcoin crossed over gold after 1 May 2020, a day ... Chart via TradingView. How Bitcoin and the rest of the crypto market trends in the near-term will likely depend mostly on the stock market. That being said, a break above $11,000 could be all that is needed for the crypto to spark an uptrend that allows it to set fresh yearly highs. Featured image from Unsplash. Charts from TradingView. BitStarz Player Lands $2,459,124 Record Win! Could you be ... Weekly Bitcoin chart. Finviz.com. It’s not surprising to see safe-havens like Bitcoin and precious metals soaring so powerfully as the coronavirus pandemic takes an unfortunate turn for the worse.
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