Technical Analysis of Bitcoin - 10/13/2024 by amfb

Bitcoin is currently trading around $62,690 USD. The technical indicators suggest a bullish trend. The 50-day and 200-day moving averages are showing upward momentum, indicating strong support levels at $61,500 and $60,000 respectively. The Relative Strength Index (RSI) is hovering around 70, suggesting that Bitcoin is nearing overbought territory. Additionally, the MACD (Moving Average Convergence Divergence) shows a bullish crossover, reinforcing the positive sentiment. However, we should watch for potential resistance at $64,000, which could trigger short-term corrections.

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@hivebuzz · Oct 13 '24

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